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“Shock Versus Gradualism” in Central Europe Reconsidered

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  • Herman W Hoen

Abstract

This paper analyzes transition policies in the former Czechoslovakia, in Hungary, and in Poland. The current literature takes for granted that Czechoslovakia and Poland, at least in the initial stages, present clear examples of a shock approach toward the transition, whereas the Hungarian case is mostly perceived as gradual. This paper challenges the dichotomous “shock-versus-gradualism” dispute, which is believed to blur the key elements of the transition from a centrally planned to a market economy, and maintains that the labels attached to the transition policies applied in these countries are inappropriate.

Suggested Citation

  • Herman W Hoen, 1996. "“Shock Versus Gradualism” in Central Europe Reconsidered," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 38(1), pages 1-20, April.
    • Handle: RePEc:pal:compes:v:38:y:1996:i:1:p:1-20
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    Cited by:

    1. Jaroslaw Kantorowicz & Rok Spruk, 2024. "Using synthetic control method to estimate the growth effects of economic liberalisation: Evidence from transition economies," The World Economy, Wiley Blackwell, vol. 47(6), pages 2332-2360, June.
    2. Edison Jakurti, 2024. "Business Equity and Wealth Inequality in Central and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 66(4), pages 717-752, December.
    3. Ichiro Iwasaki & Taku Suzuki, 2016. "Radicalism Versus Gradualism: An Analytical Survey Of The Transition Strategy Debate," Journal of Economic Surveys, Wiley Blackwell, vol. 30(4), pages 807-834, September.

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