lec_14_110B

lec_14_110B - Economics 110B World Economic History II...

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    Economics 110B  World Economic  History II Spring 2008  University of California, Davis Lecture 14: The Transition From  Communism to Capitalism 
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    Today’s Program Why Look at Transition?  The failures of centrally planned, non-market economies Incentives Environmental Problems Weak Competition and Price Alignment Policy making for transition—What to do? Big Bang—Shock therapy, Gradualism,  Sequencing Stabilisation, Privatisation, Institutional Reform   (governance) The record on the reforms and post-transition experiences Structural Reform and Stabilisation matter Privatisation-small is better Russia as an example
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    Readings Stanley Fischer and Ratna Sahay, “The Transition  Economies After Ten Years”, NBER Working  Paper no. 7664 (April 2000) Available at:  http://papers.nber.org/papers/W7664   Or it is posted on smartsite
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    Information on the FINAL EXAM The final will NOT be in class as advertized. It will be on Saturday June 7 th  at 8 A.M. The  university has given us no choice in the matter. Instead we will review by way of a documentary  DVD on either the Interwar period or the current  period.
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    The Challenge of Transition Beginning in 1989 the Eastern Bloc and Soviet Union began to  crumble. Communism as a system was over.    A major challenge for western Europe was to keep their neighbors from 
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lec_14_110B - Economics 110B World Economic History II...

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