Transition From Plan to Market: A PIE Analysis - 2011

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    Abstract

    This paper gives an overview over how far transition has proceeded and what is still lacking in the process. The analytical framework – the PIE model for Politics, Institutions, Economy – is introduced. The model is first used to point to the main reasons for the fall of the command economy. Then it is used to identify the barriers for transition of the institutional system and the restructuring of the economy. This includes an analysis of the different factors behind the steep fall in production in the first years of transition. It is shown that countries implementing a tough stabilization and a comprehensive and consequent liberalization have been most successful in the process. A fast and comprehensive privatization, on the other hand, has not been sufficient for the necessary restructuring of enterprises. Decisive for success in transition has been transformation of the state as a crucial part of the development of new political and economic institutions implementing well functioning, clear and stable rules of the game for private enterprises. The institutional development has been important for the attractiveness of foreign investments - important for restructuring enterprises as part of a positive circle for the transition process.
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCenter for International Business and Emerging Markets, Copenhagen Business School
    Number of pages27
    Publication statusPublished - Mar 2011
    SeriesCIBEM Working Paper Series

    Cite this

    Mygind, N. (2011). Transition From Plan to Market: A PIE Analysis - 2011. Frederiksberg: Center for International Business and Emerging Markets, Copenhagen Business School. CIBEM Working Paper Series
    Mygind, Niels. / Transition From Plan to Market : A PIE Analysis - 2011. Frederiksberg : Center for International Business and Emerging Markets, Copenhagen Business School, 2011. (CIBEM Working Paper Series).
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    abstract = "This paper gives an overview over how far transition has proceeded and what is still lacking in the process. The analytical framework – the PIE model for Politics, Institutions, Economy – is introduced. The model is first used to point to the main reasons for the fall of the command economy. Then it is used to identify the barriers for transition of the institutional system and the restructuring of the economy. This includes an analysis of the different factors behind the steep fall in production in the first years of transition. It is shown that countries implementing a tough stabilization and a comprehensive and consequent liberalization have been most successful in the process. A fast and comprehensive privatization, on the other hand, has not been sufficient for the necessary restructuring of enterprises. Decisive for success in transition has been transformation of the state as a crucial part of the development of new political and economic institutions implementing well functioning, clear and stable rules of the game for private enterprises. The institutional development has been important for the attractiveness of foreign investments - important for restructuring enterprises as part of a positive circle for the transition process.",
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    Mygind, N 2011 'Transition From Plan to Market: A PIE Analysis - 2011' Center for International Business and Emerging Markets, Copenhagen Business School, Frederiksberg.

    Transition From Plan to Market : A PIE Analysis - 2011. / Mygind, Niels.

    Frederiksberg : Center for International Business and Emerging Markets, Copenhagen Business School, 2011.

    Research output: Working paperResearch

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    Mygind N. Transition From Plan to Market: A PIE Analysis - 2011. Frederiksberg: Center for International Business and Emerging Markets, Copenhagen Business School. 2011 Mar.