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Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences

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  • Jeffrey D. Sachs

Abstract

During the past five years, there has been an important debate over the differing styles of market reforms in the formerly planned economies in East Asia versus Eastern Europe and the former Soviet Union (EEFSU). This paper puts forward three related propositions. First, the rapid growth of East Asia, compared with economic contraction in EEFSU, reflects differences in economic structure and initial conditions, rather than differences in economic policymaking. Second, East Asian gradualism could not, and did not, work in EEFSU. Third, EEFSU continues to face serious problems with an overextended welfare state inherited from the socialist period.

Suggested Citation

  • Jeffrey D. Sachs, 1996. "Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences," NBER Working Papers 5404, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:5404
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    References listed on IDEAS

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    1. Yingyi Qian & Chenggang Xu, 1993. "Why China's economic reforms differ: the M‐form hierarchy and entry/expansion of the non‐state sector," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 1(2), pages 135-170, June.
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    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank.
    2. Spruk, Rok, 2012. "After 20 Years of Status Quo: The Failure of Gradualism in Slovenia’s Post-Socialist Transition," MPRA Paper 36304, University Library of Munich, Germany.
    3. Lawrence King & Patrick Hamm, 2005. "Privatization and State Capacity in Postcommunist Society," William Davidson Institute Working Papers Series wp806, William Davidson Institute at the University of Michigan.
    4. Krkoska, Libor, 1999. "A Neoclassical Growth Model Applied to Transition in Central Europe," Journal of Comparative Economics, Elsevier, vol. 27(2), pages 259-280, June.
    5. Digdowiseiso, Kumba, 2010. "The transition of China and Ussr: A political economy perspective," MPRA Paper 22561, University Library of Munich, Germany.
    6. Patrick Hamm & David Stuckler & Lawrence King, 2006. "Mass Privatization and the Postcommunist Mortality Crisis," Working Papers wp118, Political Economy Research Institute, University of Massachusetts at Amherst.
    7. Spruk, Rok, 2012. "After 20 years of status quo: the failure of gradualism in Slovenia’s post-socialist transition," MPRA Paper 36268, University Library of Munich, Germany.
    8. Paul Brenton & Daniel Gros & Guy Vanadille, 1997. "Output decline and recovery in the transiton economies: causes and social consequences1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 113-130, May.

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    More about this item

    JEL classification:

    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • F02 - International Economics - - General - - - International Economic Order and Integration

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