Abstract
The breakdown of the economies in eastern Europe is probably one of the most important economic events of this century. Providing an idea of the potential time path of transformation economies and the consequences of different policy strategies is a major challenge for economic theory. This is especially true since comparable events are hard to find in economic history.2 There seems to be a broad consensus among economists concerning the important elements of the transformation process. These aspects include institutional reforms, price liberalization, privatization of state-owned enterprises, the creation of financial systems and capital markets, trade liberalization, and the reorganization of labor markets.3 Another aspect is the problem of timing and sequencing of policies in the initial period of transformation.4 Given this variety of issues research about the transformation is often restricted to be partial in nature. Therefore a comprehensive as well as long run theory of transformation seems not to be at hand.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Ahrens, J. (1994), “The Transition to a Market Economy: Are there Useful Lessons from History?” in Schipke, A. and Taylor, A. M. (eds.), The Economics of Transformation: Theory and Practice in the New Market Economies, Springer, Heidelberg, 17–46.
Arnold, M. (1994), Reform und Transformation von Wirtschaftssystemen am Beispiel der ehemaligen Sowietunion, Europäische Hochschulschriften, Reihe V, Vol. 1579, Peter Lang, Frankfurt/Main.
Atkinson, A. B. and Micklewright, J. (1992), Economic transformation in Eastern Europe and the distribution of income, Cambridge University Press, Cambridge.
Barro, R. J. (1990), “Government Spending in a Simple Model of Endogenous Growth,” Journal of Political Economy, Vol. 98, 5, part II, S103–S125.
Barro, R. J. and Sala-I-Martin, X. (1995), Economic Growth, McGraw-Hill, New York.
Blanchard, O. J, Froot, K. A. and Sachs, J. D. (Eds.) (1994), The Transition in Eastern Europe, Vol. 1: Country Studies, Vol. 2: Restructuring, University of Chicago Press, Chicago/London.
Eberwein, W.-D., Ed. (1992), Transformation Processes in Eastern Europe: Perspectives from the Modelling Laboratory, Peter Lang, Frankfurt/Main.
Funke, N. (1993), “Timing and Sequencing of Reforms: Competing Views and the Role of Credibility,” KYKLOS, Vol. 46, 337–362.
Genberg, H. (1992), “Transition Processes in Eastern Europe: The Sequencing of Reforms,” in Eberwein, W.-D. (ed.), Transformation Processes in Eastern Europe: Perspectives from the Modelling Laboratory, Peter Lang, Frankfurt/Main, 63–94.
Gries, T. and Jungblut, S. (1995), “Catching-up and Structural Adjustment,“International Economics,” Working Papers, 9502, University of Paderborn, forthcoming.
Gries, T. and Wigger, B. (1993), “The Dynamics of Upgrading or How to Catch-Up: Imitation and Growth of Newly Industrializing Countries,” Economica Internazionale, Vol. 46, 4, 3–13.
Gries, T., Wigger, B. and Hentschel, C. (1994), “Endogenous Growth and R&D Models: A Critical Appraisal of Recent Developments,” Jahrbücher für Nationalökonomie und Statistik, Vol. 213, 1, 64–84.
Grossman, G. M. and Helpman, E. (1991), Innovation and Growth in the Global Economy, MIT Press, Cambridge MA.
Lucas, R. E. Jr. (1988), “On the Mechanics of Development Planning,” Journal of Monetary Economics, Vol. 22, 1, 3–42.
Nelson, J. M. (1993), “The Politics of Economic Transformation: Is Third World Experience Relevant in Eastern Europe?” World Politics, Vol. 45, 433–463.
Newbery, D. M. (1992), “Sequencing the Transition,” in Siebert, H. (ed.), The Transformation of Socialist Economies, Symposium 1991, J.C.B. Mohr, Tübingen, 161–199.
Portes, R. (Ed.) (1993), Economic Transformation in Central Europe: A Progress Report, Centre for Economic Policy Research, London, and European Commission, Luxembourg.
Portes, R. (1994), “Transformation Traps,” Economic Journal, Vol. 104, 1178–1189.
Romer, P. M. (1986), “Increasing Returns an Long-Run Growth,” Journal of Political Economy, Vol. 94, 5, 1002–1037.
Romer, P. M. (1990), “Endogenous Technological Change,” Journal of Political Economy, Vol. 98, 5, part II, S71–S102.
Rybczynski, T. M. (1991), “The Sequencing of Reform: Microeconomics of Transition in Eastern Europe,” Oxford Review of Economic Policy, Vol. 7, 26–34.
Schmieding, H. (1992), Lending Stability to Europe’s Emerging Market Economies: On the Potential Importance of the EC and the ECU for Central and Eastern Europe, Kieler Studien 251, J. C. B. Mohr, Tübingen.
Schipke, A. and Taylor, A. M. (Eds.) (1994), The Economics of Transformation: Theory and Practice in the New Market Economies, Springer, Heidelberg.
Siebert, H., Ed. (1992), The Transformation of Socialist Economies, Symposium 1991, J.C.B. Mohr, Tübingen.
Siebert, H., Schmieding, H. and Nunnenkamp, P. (1992), “The Transformation of a Socialist Economy: Lessons of German Unification,” in Winckler, G. (ed.), Central and Eastern Europe: Roads to Growth, International Monetary Fund, Washington D.C., and Austrian National Bank.
Winckler, G. (Ed.) (1992), Central and Eastern Europe: Roads to Growth, International Monetary Fund, Washington D.C., and Austrian National Bank.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1997 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Gries, T., Jungblut, S. (1997). Catching Up of Economies in Transformation. In: Welfens, P.J.J., Wolf, H.C. (eds) Banking, International Capital Flows and Growth in Europe. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-59030-6_10
Download citation
DOI: https://doi.org/10.1007/978-3-642-59030-6_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-63823-7
Online ISBN: 978-3-642-59030-6
eBook Packages: Springer Book Archive