Transformation of Economy as a Real Process: An Insider's Perspective, 1st Edition (Paperback) book cover

Transformation of Economy as a Real Process

An Insider's Perspective, 1st Edition

By Daniel Daianu


324 pages

Purchasing Options:$ = USD
Paperback: 9781138365032
pub: 2020-02-01
Available for pre-order. Item will ship after 1st February 2020
Hardback: 9781138365018
pub: 2019-06-05
eBook (VitalSource) : 9780429430978
pub: 2018-12-07
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First published in 1998, this volume is a contribution to the economic analysis of post-communist transformation in an evolutionary-institutionalist approach. The author shows convincingly the role of path dependency, of the ways history matters for the success of otherwise sound policies, and highlights structural hindrances to fast and successful transformation. Thence emerges the key concept of strain. The book addresses the question of how to create conditions for sustainable development in societies where these are lacking, and stresses the importance of institutional change. It also emphasises the role of sound banking institutions and proper regulations, the crucial issue of financial vulnerability and fragility, the role of reputation, means to fight non-payments, limit to optimal policies, etc. The author covers a broad international literature and relates it to his insights as a local observer, which delivers an interesting reading.

Table of Contents

1. The Path of Transformation. Part 1. Institutional Change. 2. Transformation and the Legacy of Backwardness. 3. Economic Policy in Public Debate. 4. Finance in Romania’s Quest for Modernisation – the Interwar Period and the Present. 5. Institutions, Strain and the Underground Economy. Part 2. Macroeconomic Stabilisation and Restructuring. 5. The Changing Mix of Dis-equilibria during Transition – a Romanian Background. 7. Resource Misallocation and Strain – Explaining Shocks in Post-Command Economies. 8. Structure and Strain in Explaining Inter-Enterprise Arrears. 9. Stabilisation and Exchange Rate Policy in Romania. Part 3. Transformation and External Environment. 10. Europe Under a Double Challenge. 11. Judging Romania’s Way in a Comparative Framework. 12. The European Union and Eastern Enlargement – a Compounded Challenge.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / General