ELEMENTS OF THE ECONOMICS OF TRANSITION

prof. Victor Polterovich

September 2000

The main goal of the course is to provide the understanding of main problems and main developments of the emerging theory of transformation of the former centrally planned economies. Particular attention is given to the processes taking place in Russia.

The course includes 14 lectures and requires an essay on one the topics in the course. (This essay could account for a part of a term paper and a Master thesis.) Essay, not shorter than 10 pages, has to be submitted not later than October 23. The course grade is a weighted average of the grades for the exam and for the essay, where weights are 0.7 and 0.3 respectively.

1. SOVIET ECONOMIC SYSTEM TILL THE 1992.

1.1. P.Gregory, R.Stuart, Soviet Economic Structure and performance, Harper and Row, 3^rd Edition, N.Y., 1986, pp.9-16, 155-254, 387-414.

1.2. J. Kornai.Economics of Shortage, Amsterdam: North- Holland, 1980, (chapters 9, 20).

1.3.W.Easterly, S.Fisher. The Soviet Economic Decline: Historical and Republican Data National Bureau of Economic Research, Working Paper N.4735, Boston, June 1994.

2. ECONOMIC REFORMS IN RUSSIA 1992-1999 :
basic processes, firm and consumer behavior, dynamics of macroeconomic indices. New system of economic institutions.

2.1. J. Willamson, In Search of a Manual for Technopols. In: John Willamson, Editor. The Political Economy of Policy Reform. Institute for International Economics, Washington, DC., January 1994. 11-27.

2.2. P.Gregory, R.Stuart, Russian and Soviet Economic Structure and Performance. Sixth Edition. Eddison-Vesley, N.Y, 1997. pp. 293- 405.

2.3. Blanchard, O. (1997). The Economics of Post-Communist Transition. Oxford: Clarendon Press. pp.1-24.

2.4. Аукуционек С.П. (1998). Эмпирика перехода к рынку. Опыт России. М.: Наука.

2.5. Corbett J. and C.Mayer. (1991). Financial Reform in Eastern Europe: Progress with the Wrong Model. In: Eds. P.G.Hare and Jr.R.Davis. Transition to the Market Economy. Critical Perspectives on the World Economy, v.3, 23-48.

2.6. В.М.Полтерович (1993). Экономическая реформа 1992 г.: битва правительства с трудовыми коллективами. Экономика и математические методы, 29, вып. 4, 533 - 547.

2.7. Монтес М.Ф., В.В.Попов.(1999). “Азиатский вирус” или “Голландская болезнь”? Теория и история валютных кризисов в России и других странах. Изд-во “Дело”, Москва. Гл.3.

3. A Revision of the “Washington Consensus”. The State in a Transition Economy. Institutional Traps.

3.1. Stiglitz, Joseph E. (1997). More Instruments and Broader Goals: Moving Toward the Post-Washington Consensus. Wider Annual Lectures 2. The United Nations University, May.

3.2. Andrei Shleifer. (1997). Government in Transition. European Economic Review , 41.

3.3. Полтерович В.М. (1999). Институциональные ловушки и экономические реформы, Экономика и математические методы, 35, вып.2.

3.4. Rodrik, D. (1996). "Understanding Economic Policy Reform." Journal of Economic Literature 34, 9-41.

3.5. Отчет о мировом развитии. Государство в меняющемся мире.(1997). Всемирный Банк.

3.6. Roland G. (2000). Politics, Markets and Firms. MIT Press. Chapter 8.

4. DISEQUILIBRIUM MECHANISM OF THE RESOURSES DISTRIBUTION: rationing, queues , black market. WHO DOES BENEFIT FROM SHOCK PRICE LIBERALIZATION?

4.1. .J. Kornai. Economics of Shortage, Amsterdam: North-Holland,1980, (chapter 17).

4.2. V.Polterovich. Rationing, Queues, and Black Markets. Econometrica, v.61, 1993, Nо.1, 11 - 28.

4.3. J.-P.Benassy. Rationed Equilibria, 1989, The New Palgrave, General Equilibrium, ed. by J.Eatwell, M.Milgate, P.Newman, pp.250-260.

4.4. M. Alexeev. If Market Clearing Prices Are So Good then Why Doesn't (Almost) Anybody Want Them?, J. Comparative Economics, v.15, 1991, pp.380-390.

5. TRANSFORMATIONAL RECESSION

5.1. J. Kornai. Transformational Recession: The Main Causes. Journal of Comparative Economics, 19, 1994, No.1, 39-63.

5.2. Blanchard, O. (1997). The Economics of Post-Communist Transition. Oxford: Clarendon Press. pp.25 – 59.

5.3. В.М.Полтерович. Трансформационный спад в России. Экономика и матем. методы, 1996, т. 32, вып.1, 54-69.

. 6. INFLATION , STABILIZATION, AND RESESSION.

6.1. M.Bruno , Crisis, Stabilization, and Economic Reform, Oxford: Clarendon Press, 1993, Chapter 7.

6.2. Coricelli , F. Macroeconomic Policies and the Development of Markets in Transition Economies. CEU Press, Budapest, 1998.

6.3. M.Bruno and S.Fisher. Seigniorage, Operating Rules, and High Inflation Trap, Quarterly Journal of Economics, CV, 1993, Issue 2, 353 - 373.

6.4. M. Bruno. Econometrics and Design of Economic Reform, Econometrica, 57, 1989, No.2, 275-306.

7. AREARS, BARTER, AND THE SHADOW ECONOMY

7.1. Coricelli , F. Macroeconomic Policies and the Development of Markets in Transition Economies. CEU Press, Budapest, 1998.

7.2. Аукуционек С.П. (1998). Эмпирика перехода к рынку. Опыт России. М.: Наука.

7.3. S. Jonson, D. Kaufman and A. Shleifer. The Unofficial Economy in Transition. Brookings Papers on Economic Activity, 2, 1997.

7.4. Карпов П. А. (1997). О причинах низкой собираемости налогов (неплатежей фискальной системе) общих причинах “кризиса неплатежей” и возможности восстановления платежеспособности российских предприятий. Отчет межведомственной балансовой комиссии. М.

7.5. Долгопятова Т. и др. (1998). Неформальный сектор в Российской экономике. М: ИСАРП

7.6. Радаев В.В. (1998). Формирование новых российских рынков: трансакционные издержки, формы контроля и деловая этика. М: Центр политических технологий.

8. PRIVATIZATION: FACTS AND PIECES OF THE THEORY.

8.1. Jasinski P. and G.Yarrow (1997). Privatization: An Overview of the Issues. In: Yarrow G. and P. Jasinski (eds.). Privatization. Critical Perspectives on the World Economy. Vol. 1.

8.2 Boycko, M., A. Schleifer, R. Vishny. (1995). Privatizing Russia. Cambridge, Mass.: MIT.

8.3. Blanchard, O. (1997). The Economics of Post-Communist Transition. Oxford: Clarendon Press. pp. 64-98

8.4.. В. Рутгайзер (1993). Приватизация в России: движение “ на ощупь”. Вопросы экономики, Nо. 11, 113-132.

8.5. V. Polterovich. Towards the Theory of Privatization. M.: CEMI, Russian Academy of Sciences, 1995.

9. LABOUR MARKET IN THE TRANSACTION ECONOMY.

9.1.Blanchard, O. (1997). The Economics of Post-Communist Transition. Oxford: Clarendon Press.

9.2. Coricelli , F. Macroeconomic Policies and the Development of Markets in Transition Economies. CEU Press, Budapest, 1998.

9.3. Polterovich, V. Employment-Wage Decisions In The Insider-Owned Firm: A Transition Economy Case, Helsinki, 1999.

10. CRISIS OF 1998: CAUSES AND CONCEQUENCES

10.1. Монтес М.Ф., В.В.Попов.(1999). “Азиатский вирус” или “Голландская болезнь”? Теория и история валютных кризисов в России и других странах. Изд-во “Дело”, Москва. Главы 1, 3.

 

Courses 2001/02

Courses offered
in 2000/01:

Advanced Topics in Econometrics

Applied Econometrics

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