Rebuilding Capitalism

The post-socialist transitions in the East and the abandonment of state-led development (dirigisme) in the South comprise one of the most important global phenomena to unfold at the end of this century. Rebuilding Capitalism contains innovative work by well-known specialists in the fields of economic reform, macroeconomics, and development. It offers a global and integrative perspective on the theory and practice of economic reform after socialist and dirigisme. The book considers the historical origins of the current wave of market-oriented reform, reviews existing controversies on the design of economic reforms, and offers alternative criteria to evaluate policy performance. In particular it focuses on issues of macroeconomic adjustment and stabilization, liberalization policies, reform of the state, and interactions between economic and political transformation during the course of systematic transformation. A distinctive feature of this volume is that it covers a wide range of reform experiences from various countries. The analysis of post-socialist reform includes Eastern Europe, Russia, China, and cases of reforming socialism in Africa and Latin America (including a special chapter on Cuba). Post-dirigisme transitions are examined for Latin America and East Asia.