Building Capitalism
The Transformation of the Former Soviet Bloc

A comprehensive economic analysis of the Soviet bloc countries ten years after Communism.

Anders Aslund (Author)

9780521801393, Cambridge University Press

Hardback, published 10 December 2001

532 pages, 13 b/w illus. 62 tables
23.6 x 15.8 x 3.3 cm, 0.827 kg

'Building Capitalism is a tour de force that will come to form part of the corpus of essential background reading for those interested in this subject and its myriad ramifications …' The Journal of Energy Literature

A most comprehensive empirical analysis of the economic transformation of the former Soviet bloc during the first decade after communism. It debunks many myths, seeing transition as a struggle between radical reformers and those thriving on rent seeking. People have gained from fast and comprehensive reforms, but several countries have gotten stuck in corruption. Economic decline and social hazards have been greatly exaggerated, since people have forgotten how awful communism was. Swift liberalization of prices and foreign trade, as well as rapid and profound fiscal adjustment, have been vital for growth, institutional reforms, legality and greater equity. Privatization has been beneficial, and its effects will grow over time. The main problem has been the continuation of unregulated and ubiquitous state apparatuses living on corruption, while no country has suffered from too radical reforms. Where malpractices of the elite can be checked, market reforms and democracy have proceeded together.

List of tables and charts
Acknowledgements
List of abbreviations
Introduction
1. What communism actually was
2. The decline and fall of socialism
3. Strategic policy choices
4. Changes in output and their causes
5. Liberalization
6. Financial stabilization
7. Privatization
8. Social developments and policy
9. State and politics in the transformation
10. Role of the outside world
11. Conclusions
Bibliography
Index.

Subject Areas: Political economy [KCP], Development economics & emerging economies [KCM], International relations [JPS], Marxism & Communism [JPFC], Political science & theory [JPA], Social theory [JHBA]