From Shock to Therapy: The Political Economy of Postsocialist Transformation

Hardcover | May 15, 2000

byGrzegorz W. Kolodko

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The great transformation undertaken by the countries of the former communist bloc exhibits immense diversity-in 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 andpolitics of postsocialism to be written by an author so deeply-and so successfully-involved 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 policyproposals 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 fatality-that sound policies in the present are more determining than the favourable or unfavourable legacies of the past. The aim is tocreate and maintain the conditions for sustainable growth and durable development.

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The great transformation undertaken by the countries of the former communist bloc exhibits immense diversity-in 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 andpolitics of postsocialism to be written by ...

Kolodko is a university professor (currently of Warsaw and Rochester universities), researcher, consultant to international organizations, former government minister in Poland, and author of numerous books and research papers.

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Format:HardcoverPublished:May 15, 2000Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198297432

ISBN - 13:9780198297437

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Table of Contents

Introduction1. Transition from socialism: where to?2. Different points of departure3. Systemic change and economic performance4. Transitional recession: expectations, reality, interpretations5. The Washington Consensus revisited6. Transition policy and development strategy7. Transition from plan to market8. Financial reform and policy9. The redistribution of the costs and benefits of transition10. Marketization and democratization11. From recovery to sustained growth12. The internationalization of postsocialist economies13. The long-term prospects14. Doubts and conclusions

Editorial Reviews

`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