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Economic reforms and constitutional transition

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  • Economic reforms and constitutional transition
  • Sachs, Jeffrey; Woo, Wing Thye; Yang, Xiaokai
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Title Economic reforms and constitutional transition
Similar Titles
Material Type Articles
Author(English)

Sachs, Jeffrey; Woo, Wing Thye; Yang, Xiaokai

Publisher

Unknown:Unknown

Date 2000-10
Pages 45
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Government and Law < Laws and Legislation
Holding University of California, Davis

Abstract

This paper investigates the relationship between economic reforms and constitutional transition, which has been neglected by many transition economists. It is argued that assessment of reform performance might be very misleading if it is not recognized that economic reforms are just a small part of large scale of constitutional transition. Rivalry and competition between states and between political forces within each country are the driving forces for constitutional transition. We use Russia as an example of economic reforms associated with constitutional transition and China as an example of economic reforms in the absence of constitutional transition to examine features and problems in the two patterns of transition. It is concluded that under political monopoly of the ruling party, economic transition will be hijacked by state opportunism. Dual track approach to economic transition may generate very high long-term cost of constitutional transition that might outweigh its short-term benefit of buying out the vested interests.