The Transformation of the Communist Economies

1. Front Matter

   Pages i-xii

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2. Theoretical and Historical Overviews

   1. Front Matter

      Pages 1-1

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   2. Europe versus Asia: Contrasting Paths to the Reform of Centrally Planned Systems of Political Economy

      • Ha-Joon Chang, Peter Nolan

      Pages 3-45

   3. Capitalist Triumphalism in the Eastern European Transition

      • Peter Wiles

      Pages 46-77

   4. Economic Theory and Transformation of the Soviet-type System: The Challenge of the Late Industrialisation Perspective

      • Dic Lo

      Pages 78-110

3. Policy Issues

   1. Front Matter

      Pages 111-111

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   2. Wasted Sacrifices: Real Wages and Reconstruction in Eastern Europe

      • Andrew Glyn

      Pages 113-135

   3. The Transition in Eastern Europe: The Case for Industrial Policy

      • Michael A. Landesmann, Istvan Abel

      Pages 136-161

   4. Reflections on the Privatisation Issue

      • Keith Cowling

      Pages 162-176

   5. Financial Fragility in the Transition to Market Economies

      • Laurence Harris

      Pages 177-202

   6. Equality, Efficiency and Economic Progress: The Case for Universally Applied Equitable Standards for Wages and Conditions of Work

      • Frank Wilkinson

      Pages 203-229

   7. Social Security Reform in Urban China: The Case of Shanghai

      • Steve Pudney

      Pages 230-281

   8. The Role of Foreign Direct Investment in the Transformation of Eastern Europe

      • Hugo Radice

      Pages 282-310

4. Learning from Experiences

   1. Front Matter

      Pages 311-311

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   2. The Lessons of History: New Economic Policy in China and the USSR

      • Chris Bramall

      Pages 313-339

   3. Nicaragua: The Sandinista Experiment and its Aftermath

      • Gabriel Palma

      Pages 340-381

   4. Return to Europe?: Is there Anything for Eastern Europe to Learn from East Asia?

      • Ha-Joon Chang

      Pages 382-399

   5. Political Economy and the Reform of Stalinism: The Chinese Puzzle

      • Peter Nolan

      Pages 400-417

5. Back Matter

   Pages 419-438

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The mainstream view of the way in which best to transform the communist economies was that there should be a rapid transition to a free market economy and political democracy. The articles in this book challenge this view. They do so from the standpoint of economic and political theory, and from an evaluation of the comparative experience of different reforming countries in Europe and Asia. This book represents the first systematic attempt to try to explain the dramatic contrast in outcome between reforming countries that have pursued comprehensive system reform and those that have pursued cautious, experimental strategies.

• China
• communism
• democracy
• East Asia
• Eastern Europe
• economic policy
• economic theory
• foreign direct investment
• political theory

• University of Cambridge, UK

  Ha-Joon Chang

• Jesus College, Cambridge, UK

  Peter Nolan

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