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На Пути К Новой Теории Реформ
[Towards a New Theory of Reform]

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  • Polterovich, Victor

Abstract

Recent studies of processes of economic reforms testified that realization of liberal school recipes resulted in nonadequate losses. Basing on these studies,the author singles out a number of fundamental mistakes of the neoliberal conception. The neoliberals ignored costs of institutional transformations; they thought that creation of the market law framework was sufficient to form efficient institutions; they overestimated the role of macroeconomic policy to the detriment of institutional development; they did not consider possibilities of "institutional conflicts" as a result of institutional borrowing from other cultures; they did not take into account that efficient state is necessary for reforms to be successful. The theory of transition economies is now itself in transition to a new understanding of goals, possibilities, and technologies of reforms. Using the analysis conducted, the author outlines the most important directions of necessary transformations of Russian economic institutions.

Suggested Citation

  • Polterovich, Victor, 1999. "На Пути К Новой Теории Реформ [Towards a New Theory of Reform]," MPRA Paper 22035, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:22035
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    References listed on IDEAS

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    Cited by:

    1. Ageeva Svetlana & Suslov Nikita, 2005. "Energy Consumption and GDP in Market and Transitional Economies," EERC Working Paper Series 05-05e, EERC Research Network, Russia and CIS.

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    More about this item

    Keywords

    transformation costs; rent revenue; transplantation of institutions; privatization; government effectiveness;
    All these keywords.

    JEL classification:

    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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