Reflections on the Role of Institutions on the Chinese Road to a Market Economy
At the onset of transformation there has been a close to consensus view that the market system has no alternative. While this insight has found its place in the current mainstream on development economics, the so-called Washington consensus or post-Washington consensus (Kolodko, 2000, pp.119-141 an...
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| Format: | Article |
| Language: | English |
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University of Debrecen, Faculty of Economics and Business
2020-08-01
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| Series: | Competitio |
| Online Access: | https://ojs.lib.unideb.hu/competitio/article/view/8167 |
| _version_ | 1797398365925801984 |
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| author | Laszlo Csaba |
| author_facet | Laszlo Csaba |
| author_sort | Laszlo Csaba |
| collection | DOAJ |
| description |
At the onset of transformation there has been a close to consensus view that the market system has no alternative. While this insight has found its place in the current mainstream on development economics, the so-called Washington consensus or post-Washington consensus (Kolodko, 2000, pp.119-141 andpp. 348-356; and Williamson, J, 2000, Srinivasan, T.N.,2000), very few would venture to repeat in an academic writing the once famous dictum of Vaclav Klaus: the third road leads to the third world. Much of western Europe has remained within the framework of the welfare state, despite its obvious limitations. Also in
the transforming economies, the rollback of the state has proven to be much less than the tough normative language adopted by early reformers would have indicated. Actually, it is the structure rather than the size of public spending in these countries that may be a source of social and economic strains by providing less than optimal conditions for sustaining economic growth.
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| first_indexed | 2024-03-09T01:24:36Z |
| format | Article |
| id | doaj.art-9acae0753ca1490c92b8b7e17bd499f8 |
| institution | Directory Open Access Journal |
| issn | 1588-9645 2939-7324 |
| language | English |
| last_indexed | 2024-03-09T01:24:36Z |
| publishDate | 2020-08-01 |
| publisher | University of Debrecen, Faculty of Economics and Business |
| record_format | Article |
| series | Competitio |
| spelling | doaj.art-9acae0753ca1490c92b8b7e17bd499f82023-12-10T07:58:21ZengUniversity of Debrecen, Faculty of Economics and BusinessCompetitio1588-96452939-73242020-08-013110.21845/comp/2004/1/4Reflections on the Role of Institutions on the Chinese Road to a Market EconomyLaszlo Csaba0University of Debrecen Faculty of Economics and Business Administration At the onset of transformation there has been a close to consensus view that the market system has no alternative. While this insight has found its place in the current mainstream on development economics, the so-called Washington consensus or post-Washington consensus (Kolodko, 2000, pp.119-141 andpp. 348-356; and Williamson, J, 2000, Srinivasan, T.N.,2000), very few would venture to repeat in an academic writing the once famous dictum of Vaclav Klaus: the third road leads to the third world. Much of western Europe has remained within the framework of the welfare state, despite its obvious limitations. Also in the transforming economies, the rollback of the state has proven to be much less than the tough normative language adopted by early reformers would have indicated. Actually, it is the structure rather than the size of public spending in these countries that may be a source of social and economic strains by providing less than optimal conditions for sustaining economic growth. https://ojs.lib.unideb.hu/competitio/article/view/8167 |
| spellingShingle | Laszlo Csaba Reflections on the Role of Institutions on the Chinese Road to a Market Economy Competitio |
| title | Reflections on the Role of Institutions on the Chinese Road to a Market Economy |
| title_full | Reflections on the Role of Institutions on the Chinese Road to a Market Economy |
| title_fullStr | Reflections on the Role of Institutions on the Chinese Road to a Market Economy |
| title_full_unstemmed | Reflections on the Role of Institutions on the Chinese Road to a Market Economy |
| title_short | Reflections on the Role of Institutions on the Chinese Road to a Market Economy |
| title_sort | reflections on the role of institutions on the chinese road to a market economy |
| url | https://ojs.lib.unideb.hu/competitio/article/view/8167 |
| work_keys_str_mv | AT laszlocsaba reflectionsontheroleofinstitutionsonthechineseroadtoamarketeconomy |