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Creating Capitalism : Transitions and Growth in Post-Soviet Europe - Patricia Dillon

Creating Capitalism : Transitions and Growth in Post-Soviet Europe

By: Patricia Dillon, Frank C. Wykoff

Hardcover

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Using history, growth theory and a political economy approach, the authors of this title explain Soviet disintegration and analyse efforts to create capitalism in newly independent European states. Despite the evident social value of capitalism, they show that natural political resistance must be overcome before economic reforms can generate growth. They show how five neccessary reforms work in the context of a growth model to improve social welfare by promoting growth. They analyse the progress of six country's - Bulgaria, the Czech Republic, Estonia, Hungary, Russia and Slovakia - in terms of each country's history and its successful application of the five reforms. A model tests the connections between reforms, elections and economic performance.
Industry Reviews
'The book's focus is on select major background forces that influence (either constructively or otherwise) the reform policies being adopted by decision makers at a given phase of an economy's reform path. Empirical verification of the relationship between non economic variables and the implementation of select economic policies and their resulting consequences constitutes a valuable contribution to the fields of economic research. Considering the scope of the authors' research focus, the cogent materials are succinctly presented in a readable fashion that will be accessible to students and scholars in the field of systematic transformation. . . . This volume will be of interest to students and scholars interested in the field of economic restructuring and transitional economics.' -- Raphael Shen, S.J., Slavic Review
'This is an excellent analysis of the post-Soviet transition from central planning to a market economy. The book contains an attractive combination of theoretical, institutional and country-specific information. It constitutes a superb source of easily accessible information for advanced undergraduate and graduate students, as well as the general public.' -- - Jan Svejnar, University of Michigan, Ann Arbor, US
'The authors show why markets matter, and, yet, why transition is problematic. They ably use theory to guide discussion and make adroit use of data to substantiate their arguments. This book is a must read for anyone interested in the world-wide trend towards democratic capitalism.' -- - M. Ishaq Nadiri, New York University, US
'Doing what has to be done - transitioning from communism to capitalism - presents enormous opportunities as well as a Pandora's box of pitfalls. This well-documented and solidly reasoned book by economists Patricia Dillon and Frank Wykoff, presents a compelling synthesis, charting the progress of social transformation in the countries of Eastern Europe and drawing crucial lessons painfully gained.' -- Thomas W. Hazlett, Manhattan Institute, US

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