The Role of the State in Economic Transformation: Comparing the Transition Experiences of Russia and China

Authors

  • Дэвид М. Котц University of Massachusetts, USA

Abstract

This paper compares two radically different approaches to transforming an economic system based on central planning and state property into a capitalist system, the neoliberal transition strategy. Russia's transition since 1992 is examined as an example of the neoliberal approach, while China's transition since 1978 is analyzed as an example of the state directed approach. The primary explanation for China's economically superior transition performance is located in the advantages of the state directed transition strategy. However, contradictions in a state directed transition strategy are identified which tend to promote an eventual shift toward a neoliberal strategy.

Keywords:

central planning, neoliberal strategy

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References

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Translation of references in Russian into English

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Published

2019-01-15

How to Cite

Котц, Д. М. (2019). The Role of the State in Economic Transformation: Comparing the Transition Experiences of Russia and China. St Petersburg University Journal of Economic Studies, (2), 48–64. Retrieved from https://economicsjournal.spbu.ru/article/view/3742

Issue

No. 2 (2005)

Section

Global economy

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.