Gradual Shock Therapy
Gradual Shock Therapy
Author(s): Vladimir GligorovSubject(s): Political history, Economic policy, Government/Political systems, Political economy, Transformation Period (1990 - 2010), Post-Communist Transformation
Published by: SAGE Publications Ltd
Keywords: Fall of communism; postcommunist transformation; transformation of economy; market economy; monetarism;
Summary/Abstract: The reaction of the economics profession to the fall of communism reveals some of its theoretical preferences. Though there are substantial differences among the practitioners of the post-Communist transformation economics, the leading policy approach, though perhaps not any longer quite the mainstream, is the one that advocates price stabilization. through so-called shock therapy and institutional transformation through something called a big-bang. The public accepts this mainly on the authority of the profession but often without understanding either the assumptions or the reasons on which this approach is founded. [...]
Journal: East European Politics and Societies
- Issue Year: 09/1995
- Issue No: 01
- Page Range: 195-206
- Page Count: 12
- Language: English
- Content File-PDF