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The rebirth of competition and the extensive "exit" that has
resulted are among the most important developments in Central
Europe since the demise of Communism. This text examines why, how,
and to what extent enterprises have reduced their size or left the
market altogether during the first years of the transition from
socialism to capitalism in the Czech Republic, Hungary and Poland.
This volume gathers together a collection of essays integrated by
two central themes: the comparative economic performance of
different economic systems (centralized socialism, reformed
socialism, competitive socialism), and the transition from
socialism to capitalism under newly established pluralistic
political systems in Central and Eastern Europe. Most of the essays
are based on the first-hand experience of the author in stabilizing
an economy in an early stage of hyperinflation and in transforming
it into a competitive capitalist market economy.
inefficient and uncompetitive enterprises especially from the
over-grown industrial sector. These initial conditions meant that,
in the early stages of transition, the volume of entries and exits
will be, by necessity, very high reflecting the large scale changes
that had to take place before these economies attain a
macroeconomic structure consistent with their level of development
and with the needs of a market-based economy open to
internationalcompetition. One of the main elements of the reform
programme in all economies in transition was the liberalisation of
entry conditions. Along with the liberalisation of prices and
foreign trade, appropriate measures facilitating the establishment
of new enterprises were approved in the very early phase of reforms
in all of these countries. The effectiveness of liberalised entry
conditions, of course, depends on the presence of appropriate legal
and institutional framework in which new firms will operate. The
establishment of a conducive legal and institutional environment,
however, takes much longer. In practice, new firms come into
existence before the rules of the game are properly established.
These rules develop gradually and are not always, and everywhere,
consistent with the aim of liberalising the entry conditions. The
conditions facing new firms, therefore, have fluctuated in some
countries in accordance with changes in the political environment
and in line with the strength of different lobbies and interest
groups."
inefficient and uncompetitive enterprises especially from the
over-grown industrial sector. These initial conditions meant that,
in the early stages of transition, the volume of entries and exits
will be, by necessity, very high reflecting the large scale changes
that had to take place before these economies attain a
macroeconomic structure consistent with their level of development
and with the needs of a market-based economy open to
internationalcompetition. One of the main elements of the reform
programme in all economies in transition was the liberalisation of
entry conditions. Along with the liberalisation of prices and
foreign trade, appropriate measures facilitating the establishment
of new enterprises were approved in the very early phase of reforms
in all of these countries. The effectiveness of liberalised entry
conditions, of course, depends on the presence of appropriate legal
and institutional framework in which new firms will operate. The
establishment of a conducive legal and institutional environment,
however, takes much longer. In practice, new firms come into
existence before the rules of the game are properly established.
These rules develop gradually and are not always, and everywhere,
consistent with the aim of liberalising the entry conditions. The
conditions facing new firms, therefore, have fluctuated in some
countries in accordance with changes in the political environment
and in line with the strength of different lobbies and interest
groups."
In vier ThemenblAcken geben die BeitrAge A bis Z einen Einblick in
Stand, Entwicklung und Perspektiven der systemvergleichenden
Innovationsanalyse. Es wird ein umfassender Einstieg geboten in
systemindifferente und -spezifische Aspekte der Innovationsdynamik.
Ebenso prAsentiert der Band fA1/4r Wissenschaft, Wirtschaftspraxis
und Wirtschaftspolitik neuere Entwicklungen aus Ost und West:
Theoretische Aspekte, empirische Befunde und lAnderorientierte
EinzelbeitrAge zur Innovationspolitk (USA, BRD, Japan, Frankreich,
Spanien, GroAbritannien, Polen, DDR, UdSSR).
Looking at the economic growth of seemingly similar countries one
can find striking differences. Why has Australia gotten so much
ahead of New Zealand, in spite of the latter being held up as a
paragon of free market reform? How is it possible that Austria,
with its persistently oversized state enterprise sector, has
managed to (nearly) catch up with Switzerland? How can we account
for the differences in economic growth between Estonia and
Slovenia, and which of these two countries has been more successful
at systemic transformation? Why is Mexico so much poorer than
Spain, despite having been wealthier all the way into the 1960s?
Why has Venezuela, which in 1950 had a per capita income higher
than that of Norway and remains a major exporter of oil, slipped
behind Chile? Why is Costa Rica lagging behind Puerto Rico, even
though in the 1970s the U.S. territory's fast development slowed to
a crawl and is now far below other comparable island economies? Why
has 'communist' China outstripped 'capitalist' India? Why has
Pakistan's growth lagged behind that of Indonesia, even though the
latter suffered one of the deepest crises in world economic history
in the years 1997-98? Why, even before the 2010 earthquake, the
Dominican Republic has been visited by several dozen times more
tourists than Haiti, despite being situated on the same island?
This book strives to answer these (and many other) questions. They
are all part of a broader question that we wish to address: how do
differences in economic growth arise?
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