Obstacles to Economic Reform of Socialism: An Institutional-Choice Approach
- 1 January 1990
- journal article
- research article
- Published by SAGE Publications in The Annals of the American Academy of Political and Social Science
- Vol. 507 (1) , 53-64
- https://doi.org/10.1177/0002716290507001006
Abstract
Marketizing reforms are often suggested as remedies for the problems that plague socialist economies. Introducing market reforms is a complex problem. This article examines the obstacles to such reforms. It employs an institutional-choice perspective to study the conditions that are necessary to make marketization effective and discusses the likely outcomes of incomplete marketization.Keywords
This publication has 1 reference indexed in Scilit:
- Understanding the Soft Budget ConstraintJournal of Economic Literature, 2003