Credibility of Economic Reform and Foreign Direct Investment in the Former Soviet Union Region


Book Description

For example, we show that if there is no pre-commitment mechanism it is possible that the government could be interested in increasing the level of reform efforts during the initial stages of reform. This can increase the probability of political reversal which is of a great concern of all private investors. We show that a pre-commitment solution is more desirable comparing to the time consistent solution and that a pre-commitment mechanism is required to enhance the credibility of the pre-commitment solution. And we propose such a mechanism that together with other pre-commitment mechanism can be applied in transition economies, especially in the initial stages of the reform.




The Politics of Economic Reform in the Soviet Union


Book Description

Monograph on the role of the communist political party in the application of the 1965 economic reform in the USSR, with particular reference to the reform of the industrial planning and industrial management systems - assesses political aspects and economic implications, analyses present and potential trends from centrally planned economy toward decentralization, and covers the extent of political leadership support and managerial support of the reform, implications for industrial growth, etc. Bibliography pp. 205 to 230 and references.







Why Perestroika Failed


Book Description

Gorbachev's reforms brought high hopes in the West and empty shelves in the East. Why Perestroika Failed argues that successful reform is only possible on the basis of a sound understanding of market and political processes. Using an Austrian market process approach to analyse the economics of the Soviet system, and a public choice one to sound understanding of market and political address the political dimension, Boettke argues that Gorbachev's reforms were always destined to fail. In part perestroika failed because it was never really implemented. But nonetheless, even if all the major proposals and decrees had been scrupulously adhered to, they would not have produced the structural changes necessary to revive the former Soviet economy. Knowing why perestroika failed is crucially important as the former Soviet republics and East and Central Europe try and chart a new course.




Constitutionalism and Credibility in Reforming Economies


Book Description

There has been relatively little investigation of the effect of constitutional transformations on the economic transition in post-communist countries. We develop a simple signalling model in which constitutionalism - a commitment to limit political power and provide judicial defence of basic rights - reinforces the credibility of pro-market candidates electoral promises and boosts public support for economic reforms. These findings are tested using opinion poll data on public support for reform in Central and Eastern Europe, and in the former Soviet Union, in the 1990s. In a two-stage procedure we show that public support for market reforms is higher in countries where incumbents have taken deliberate steps to increase political accountability and judicial independence. Public support also spurs actual economic reform.




The Political Logic of Economic Reform in China


Book Description

In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chinese communist political institutions are more flexible and less centralized than their Soviet counterparts were. Shirk pioneers a rational choice institutional approach to analyze policy-making in a non-democratic authoritarian country and to explain the history of Chinese market reforms from 1979 to the present. Drawing on extensive interviews with high-level Chinese officials, she pieces together detailed histories of economic reform policy decisions and shows how the political logic of Chinese communist institutions shaped those decisions. Combining theoretical ambition with the flavor of on-the-ground policy-making in Beijing, this book is a major contribution to the study of reform in China and other communist countries. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1994. In the past decade, China was able to carry out economic reform without political reform, while the Soviet Union attempted the opposite strategy. How did China succeed at economic market reform without changing communist rule? Susan Shirk shows that Chine




The Struggle to Save the Soviet Economy


Book Description

For half a century the Soviet economy was inefficient but stable. In the late 1980s, to the surprise of nearly everyone, it suddenly collapsed. Why did this happen? And what role did Soviet leader Mikhail Gorbachev's economic reforms play in the country's dissolution? In this groundbreaking study, Chris Miller shows that Gorbachev and his allies tried to learn from the great success story of transitions from socialism to capitalism, Deng Xiaoping's China. Why, then, were efforts to revitalize Soviet socialism so much less successful than in China? Making use of never-before-studied documents from the Soviet politburo and other archives, Miller argues that the difference between the Soviet Union and China--and the ultimate cause of the Soviet collapse--was not economics but politics. The Soviet government was divided by bitter conflict, and Gorbachev, the ostensible Soviet autocrat, was unable to outmaneuver the interest groups that were threatened by his economic reforms. Miller's analysis settles long-standing debates about the politics and economics of perestroika, transforming our understanding of the causes of the Soviet Union's rapid demise.




Economic Transition in Eastern Europe and Russia: Realities of Reform


Book Description

An evaluation of the efficacy of different forms of liberalization since the fall of communism in Eastern Europe, in the form of 13 essays on economic and political reforms. Following an extensive introductory essay (Economic Reform: Appropriate Steps and Actual Policies), the remaining essays are organized in three parts: fundamental components of economic reform; specific problems in reform; and comparisons and evaluations. Annotation copyright by Book News, Inc., Portland, OR




Resistance to Change in the Soviet Economic System (Routledge Revivals)


Book Description

First published in 1991, this book uses a property rights perspective to analyse why there is such widespread resistance to change in the Soviet Economic System. Many within the ruling stratum benefit considerably from their positions, particularly in terms of access to goods and services. In an original conclusion Jan Winiecki argues that a cost-effective way of removing the resistance of the parasitic ruling stratum would be a system of compensatory payments.