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Sequencing the Transition

Author

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  • Newbery, David M G

Abstract

The inefficiency of Soviet-type economies results from their monopolized production structure, which makes soft budget constraints almost inevitable, as enterprises have bargaining power and must face expropriative tax rates for macroeconomic stability. Systemic reform aims to improve incentives, and if this is to be achieved with macro-stability, enterprises must be demonopolized. Most sequencing issues resolve into three key concerns: ensuring or restoring macroeconomic stability; not ruling out options for subsequent reforms, specifically those intended to increase competition; and maintaining support for completing the reform process.

Suggested Citation

  • Newbery, David M G, 1991. "Sequencing the Transition," CEPR Discussion Papers 575, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:575
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    Citations

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    Cited by:

    1. Schrader, Klaus & Laaser, Claus-Friedrich, 1992. "Kompromisse statt Marktwirtschaft: Reformdefizite in der Russischen Föderation, der Ukraine, Weißrußland und den baltischen Staaten," Kiel Discussion Papers 186/187, Kiel Institute for the World Economy (IfW Kiel).
    2. Kostas Axarloglou & Mike Pournarakis, 2007. "Do All Foreign Direct Investment Inflows Benefit the Local Economy?," The World Economy, Wiley Blackwell, vol. 30(3), pages 424-445, March.
    3. Randolph Luca Bruno, 2003. "Speed of Transition, Unemployment Dynamics and Nonemployment Policies: Evidence from the Visegrad Countries," LEM Papers Series 2003/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.

    More about this item

    Keywords

    Competition Policy; Eastern Europe; Sequencing; Tax Reform;
    All these keywords.

    JEL classification:

    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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