A Comparison of Economic Transformation in Eastern Europe and East Asia  

Oleh:

Quaisser, Wolfgang

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Economics: A Biannual Collection of Recent German Studies no. 53 (1996), page 7-30.
Topik: Eastern Europe; East Asia; Economic Transformation

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE9.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This article discusses whether, incontrast to Eastern Europe, East Asia's (or more specifically, China's and Vietnam's) successful transition to a market economy might not be attributed to a more gradual transformation strategy. It shows that declining output in Eastern Europe and economic growth in East Asia are primarily the result of different starting conditions (predominance of heavy industries in Eastern Europe, highly significant agricultural sector in East Asia). Furthermore , neither in respect of stabilization policy nor in respect of privatization is a gradual strategy superior to a radical approach. gradualism is much more the result of political compromises than the outcome of a consciously chosen strategy. The weakness of the central bureucracy and the strength of regional government have facilitated the reform process in China, especially the decollectivization of agriculture and the rapid expansion of the semi-private sector in the guise of small and medium-sized enterprises ("township and vilage enterprises"). These first reform steps cannot replace the privatization of key industries, however. In this respect, East Asia may have more to learn from Eastern Europe than vice-versa.

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