By Gur Ofer, Richard W. T. Pomfret
This booklet brings jointly ten unique reports at the transition and progress event and the principles for long term development of the newly self reliant states created via the dissolution of the Soviet Union.
Beginning with an outline of the typical pre-1992 heritage and comparative info at the post-1992 functionality of the Commonwealth of autonomous States (CIS) international locations, the authors proceed by means of reviewing the Soviet history and post-independence adventure. They then emphasize either the uniformity and variety of the twelve CIS international locations’ fresh historical past. the matter of explaining financial development in transition economies is usually explored, and person in-depth nation reports are awarded.
The participants to the e-book are a mixture of in-country researchers with in-depth neighborhood wisdom and entry to information, and overseas economists with technical services and event of long term development in different nations. This process guarantees the book’s attract lecturers and researchers of monetary progress, transition and comparative economics. Economists assigned to the sector or any one CIS state will locate the research necessary.
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Extra info for Economic Prospects of the CIS: Sources of Long Term Growth
On the contrary, if reforms were carried out by existing communist leaders, as in China, and were more or less gradual, the existence of the old state apparatus and the weakness of the opposition were assets rather than liabilities. Most former Soviet Union (FSU) states, with the possible exception of the Baltics, were in this regard at a disadvantage – they did not have either organized political opposition or an existing powerful state apparatus. State institutions in countries where opposition leaders took power after the collapse of the Soviet Union (the Baltics, Caucasus, Moldova, Ukraine, Belarus, Kyrgyzstan) and that tried to introduce shock therapy-type reforms, suﬀered from the organizational weakness of the opposition forces.
In particular, it seeks explanations for the collapse of the government in Russia, and how the poor functioning of the government and natural resource abundance could explain such peculiarities of Russian performance as barter and export of capital. Section 3 shows how macroeconomic policies and structural reforms can explain diﬀerences in inter-regional performance. Section 4 concludes. 2. POLITICAL AND LEGAL TRANSITION IN RUSSIA AND THE COLLAPSE OF THE RUSSIAN GOVERNMENT It is a tradition in the transition literature to consider 1992, the year when such reforms as price liberalization, exchange rate uniﬁcation and privatization started, the beginning of Russian transition.
The further away the 34 The economic prospects of the CIS country is from the leader, the more diﬀerent its policy should be in order to be successful. So, the best economic policy requires experimentation and choice of the policy best suited for this particular country. However, government can be corrupt, and the honest government can decide to imitate the leader’s policy because this policy appears to be the most transparent for the electorate. In countries located close to the leader, both honest and corrupt governments will choose to imitate, because the beneﬁts of imitation are quite large.
Economic Prospects of the CIS: Sources of Long Term Growth by Gur Ofer, Richard W. T. Pomfret