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Economics

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The institutional hiatus in economies in transition and its policy consequences

Article Abstract:

It is widely agreed that the process of change from a centrally planned socialist economy to a decentralized capitalist economy is lengthy and difficult. However this was not the view when Communism collapsed, and it is argued that the unexpected severity of the slump in output in the transition economies of central and eastern Europe, and the subsequent slow and fragile recovery was because the institutional hiatus created by the collapse of Communism was ignored.

Research, Eastern Europe, Communism

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Is the state-led industrial restructuring effective in transition China? Evidence from the steel sector

Article Abstract:

The Chinese government's consolidation efforts on the country's fragmented manufacturing sector are examined. These policies were based on Japan and South Korea's industrial policies. The analysis shows that the government's efforts were unsuccessful due to the country's industry policy mechanism. Conclusions show the difference between China's institutional framework and its counterparts in Japan and South Korea.

China, Government expenditures, Blast furnaces and steel mills, Analysis, Economic policy, Industrial policy, Steel industry, Report

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The transition crisis in Bulgaria

Article Abstract:

The impact of an economic crisis which hit Bulgaria in 1996 and 1997 is examined in detail.

Recessions, Bulgaria

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