Recovery Growth as a Stage of Post-Socialist Transition?

14 Pages Posted: 2 Aug 2009 Last revised: 18 Sep 2009

See all articles by Yegor Gaidar

Yegor Gaidar

Gaidar Institute for Economic Policy

Date Written: 2005

Abstract

Unfolding in 3-7 years after the collapse of socialism, economic growth at its first stage has a recovery nature. It appears secured by a new system of market institutions that provide other than under socialism fundamentals allowing for a reorganization of economic relations and boosting volume of output of goods and services that enjoy effective demand. At the recovery growth stage, the post socialist governments' mission should be casting preconditions for the transition from recovery growth stage to investment-based growth, with the latter basing on capital investment and creation of new production capacities. The major challenge today is promotion of reforms to ensure a sustainable long-term growth, and laying down socioeconomic fundamentals of the post-industrial society. This determines the core of the ongoing transformation and the main challenge that almost all post-socialist countries will be facing over next decades.

Keywords: Transition, post-socialist economies, economic growth, recovery growth, economic reform

Suggested Citation

Gaidar, Yegor, Recovery Growth as a Stage of Post-Socialist Transition? (2005). CASE Network Series and Analyses No. 292, Available at SSRN: https://ssrn.com/abstract=1441904 or http://dx.doi.org/10.2139/ssrn.1441904

Yegor Gaidar (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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