Shock Therapy versus Gradualism Reconsidered: Lessons from Transition Economies after 15 Years of Reforms

@article{Popov2007ShockTV,
  title={Shock Therapy versus Gradualism Reconsidered: Lessons from Transition Economies after 15 Years of Reforms},
  author={Valentin Nikolaevich Popov},
  journal={Comparative Economic Studies},
  year={2007},
  volume={49},
  pages={1-31}
}
This paper starts by separating the transformational recession (reduction of output in most transition economies in the first half of the 1990s) from the process of economic growth (recovery from the transformational recession) in 28 transition economies (including China, Vietnam and Mongolia). It is argued that the former (the collapse of output during transition) can be best explained as adverse supply shock caused mostly by a change in relative prices after their deregulation due to… CONTINUE READING
BETA

Similar Papers

Citations

Publications citing this paper.
SHOWING 1-10 OF 46 CITATIONS

The Long Road to Normalcy: Where Russia Now Stands

VIEW 10 EXCERPTS
CITES METHODS, BACKGROUND & RESULTS
HIGHLY INFLUENCED

References

Publications referenced by this paper.
SHOWING 1-10 OF 24 REFERENCES

A Tale of Two Reforms. The Importance of Initial Market Conditions

W. Li
  • 1996
VIEW 3 EXCERPTS
HIGHLY INFLUENTIAL