Studies in Economic Transition: Gradualism, Shock Therapy and Catch-Up Development

Stephan, J.

What factors determine the success of economic transition, development and growth? Examining the contrast between East German shock-therapy and Hungary's gradualism, the book generates a set of generalisable conditions for economic development which imply some degree of state intervention and strategy. A stability-oriented incomes policy and a carefully managed integration strategy can enable sustainable export surpluses, a competitive currency and macroeconomic stability, whilst providing sufficient room for economic restructuring, structural transformation and technological catch-up. The dangers of premature integration are examined.

Details

Published by: Palgrave Macmillan

Publication Date: 1999-02-08

Format: Hardcover

ISBN-13: 9780333751435

DOI: 10.1057/9780230596580

Dimensions: 216cm x140cm

Pages: 293