This title was first published in 2002: This multi-perspective account of societal change in transition economies offers cutting-edge analysis of the economic, legal, bureaucratic and political impact of institutional collapse and reconstruction, and the ensuing social uncertainty, also paying attention to the historical and cultural aspects of such events. Employing North's theory of Institutional Economics, the book also contains empirical data on various aspects of development in two Central Asian countries, the three Baltic Republics and the Czech and Slovak Republics. The combination of this empirical data with theoretical insight lends realism and credibility to the analysis and helps to underline the argument that transition processes are largely unique. A comprehensive synthesis of complex factors, the book is an impressive resource for both students and scholars of the transition process.
’By focusing on a selected group of former Soviet-type economies, Elma van de Mortel shows that there is much more to the process of transition to a developed market economy than the privatization of industry and the proclamation of private ownership. She clearly shows that economic transition is a long and complex process of institution-building that involves much more than has been suggested by some mainstream economic advisors from the West. The transition process of the 1990s has been a great but flawed social experiment, and institutional economists have a great deal to learn from the theoretical issues and policy failures that are unearthed in this book.’ Geoff Hodgson, Research Professor, University of Hertfordshire ’Refreshing to read a book on transition that goes beyond economics to take in politics, social relations, institutions. There is still a lot to learn from such a broad-based approach.’ Paul G. Hare, Professor of Economics, School of Management, Heriot-Watt University, Edinburgh, UK
Contents: What makes transition economies special?; A theoretical framework for analyzing transition economies; The influence of informal institutions on economic decisions in transition economies; Political reforms and institutional change in transition economies; The role of socio-economic performance during transition; Enterprise restructuring; An illustration of transition paths using catastrophe theory; Concluding remarks; Bibliography; Index.
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