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From Shock to Therapy
The Political Economy of Postsocialist Transformation
Grzegorz W. Kolodko
470 pages
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2 maps, tables
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234x156mm
978-0-19-829743-7
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Hardback
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20 April 2000
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This item is printed to order and supplied on a firm sale basis. Items which are printed to order are normally despatched and charged within 5-10 days.
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- A broad-ranging study of thirty transition economies
- A convincing alternative to conventional policies based on the Washington Consensus
- Contains policy recommendations and economic forecasts based on the author's practical experience of authoring reform in Poland
The great transformation undertaken by the countries of the former communist bloc exhibits immense diversityDSin terms of initial conditions, shifting target models, consistency, paths, speed, progress to date, and economic performance. This is the first comprehensive study of the economics and politics of postsocialism to be written by an author so deeplyDSand so successfullyDSinvolved in the reform process.
Many people writing on the reform process offer advice that is not really credible; as a member of the Polish government, and architect of the successful Polish
reform, Grzegorz Kolodko actually solved many of the difficulties of transition, which allows him to come forward here with policy proposals and long-term forecasts.
The treatment of the transition from plan to market as a historical process is an important feature of the book. The author claims that there is no historical fatalityDSthat sound policies in the present are more determining than the favourable or unfavourable legacies of the past. The aim is to create and maintain the conditions for sustainable growth and durable development.Readership: Economists and political scientists; academics working on Eastern Europe, the former Soviet Union, and China; financiers, bankers, and investors
involved in emerging markets
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Grzegorz W. Kolodko, Professor of Economics and Economic Policy, Warsaw School of Economics; Professor of Political Science, University of Rochester
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"worth having in one's library" - SEER, Vol.79, No.3
"this is one of the best treatments of the transformation process thus far available" - SEER, Vol.79, No.3
"His [Kolodko] analysis of the old system and where it went wrong under the megalomaniacal dominance of Soviet leaders is a valuable contribution to our understanding of the past and present in the region" - SEER, Vol.79, No.3
"provides a highly readable and sensible critique of the so-called 'Washington consensus' on the recipe for transformation of former Soviet-type economics" - SEER, Vol.79, No.3
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Introduction
1: Transition from socialism: where to?
2: Different points of departure
3: Systemic change and economic performance
4: Transitional recession: expectations, reality, interpretations
5: The Washington Consensus revisited
6: Transition policy and development strategy
7: Transition from plan to market
8: Financial reform and policy
9: The redistribution of the costs and benefits of transition
10: Marketization and democratization
11: From recovery to sustained growth
12: The internationalization of postsocialist economies
13: The long-term prospects
14: Doubts and conclusions
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