1991 Fiscal Year Final Research Report Summary
New Developments of Economic Reforms in the soviet Union and East-European Countries
| Project/Area Number |
01530024
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| Research Category |
Grant-in-Aid for General Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Research Field |
経済事情及び政策学
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| Research Institution | Hitotsubashi University, Institute of Economic Research |
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Principal Investigator |
NISHIMURA Yoshiaki Hitotsubashi University, Institute of Economic Research, Professor, 経済研究所, 教授 (60017671)
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| Project Period (FY) |
1989 – 1991
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| Keywords | Perestroika / Economic reform / Centralized system / Market economy / Socialism / The Soviet Union / Commonwealth of independent countries / Eastern Europe |
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| Research Abstract |
I have concentrated myself on summarizing experiences of transition to market economies initiated earnestly one year ago in the East-European countries, and analyzing the collapse of the Soviet Union, while paying attention to the fact that the research project will come to an end in this fiscal year.
As for the East-European countries, I have analyzed the actual situation that the radical marketization policies advised by IMF on the basis of economic liberalism has been dealing a serious blow to their industries. I emphasized that it must be reconsidered how to involve the former socialist economies into the Breton Woods system, and that it is urgently necessary to work out alternative policies for the so-called shock therapy. I have also groped for those policies. I pointed out a danger that the application of the radical economic liberalism without consideration of concrete conditions in the countries may bring about serious economic and social conflicts.
As concerns the Soviet Union, I noted in July 1991, by the detailed analysis of marketization programs published in the first half of 1990, that the government had come to a deadlock on its way to a market economy since the autumn of 1990. And I asserted that trying to break through the situation led to the August coup, whose essence consists in the republics' achievement of independence and a collapse of the soviet Union.
I proposed "initial conditions of marketization in the former socialist economies" as a framework of analyzing the problems of moves to market economies, which attracted attention of researchers and officials concerned.
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