How capitalism was built
Subtitle: the transformation of Central and Eastern Europe, Russia, and Central Asia
By: Anders Åslund
Publisher: Cambridge University Press
Published: 2007
Place of publication: New York, NY
Language: eng
Number of pages: 356
ISBN-13: 9780521865265; 9780521683821
Subjects: Post-communism -- Former communist countries; Privatization -- Former communist countries; Former communist countries -- Economic policy; Former communist countries -- Economic conditions
Notes: Includes bibliographical references (p. 315-342) and index
Table of contents: title: Communism and its demise. Real socialism. Decline and fall of socialism.  The demise of communism in Central Europe. The collapse of the Soviet Union; title: Shock therapy vs. gradualism. The radical reform program : a big bang. Gradual reform programs. Rent seeking : the scourge of transition. Criticism of radical reform after the Russian financial crash; title: Output : slump and recovery. Sharp decline in recorded output and varied recovery. Exaggeration of the slump. Radical reform : least decline and early recovery. Late reformers : surged after 1998; title: Liberalization : the creation of a market economy. Different strategies of deregulation. Liberalization of foreign trade. Labor market policy. Combat of monopoly : gas and coal. A big bang : vital in deregulation; title: From hyperinflation to financial stability. Establishing national currencies. Radical fiscal adjustment was key. Tax policy : from social democratic to liberal. Monetary policy : from loose to strict. Exchange rates : currency board or free float. Dramas of financial stabilization; title: Privatization : the establishment of private property rights. Differing aims of privatization. Small-scale privatization : if started, swiftly done. Large-scale privatization : the biggest headache. Privatization of land, real estate, and housing. New enterprise development : the ultimate success. Great achievements of privatization. Vital : speed and legitimacy of property rights; title: An inefficient social system. Incomes : differentiation and poverty. Life and health. Education adjusting to demand. Social transfers and pension reform. Alternative social models; title: Democracy vs authoritarianism. Democratic breakthrough : critical for successful transformation. An under-reform trap. Renewed democratization : colored revolutions. Parties, electoral rules, and constitutions. How to tame the leviathan : reform of the communist state. Public opinion and ideology. Democracy and democracy aid; title: From crime toward law. An explosion of crime. Attempts at building a legal system. Corruption : the bane of transition; title: The role of oligarchs. Who are the oligarchs? The economics of oligarchy. The politics of oligarchy. Complaints : a matter of ideology. A question of property rights. Putin's alternative : centralized dictatorship; title: The role of international assistance. The dream of Europe. Western failure to act in the East. Trade policy : a gulf between the EU and the CIS. International assistance : insufficient but crucial; title: Conclusions : a world transformed. Different models. Achievements and revelations. Why certain polices worked while others did not