search query: @author Chen, Q. / total: 7
reference: 2 / 7
| Author: | Chen, Q. |
| Title: | Rent seeking and economic liberalization: why are China and Vietnam different from Eastern Europe? |
| Journal: | Journal of the Asia Pacific Economy
2008 : MAY, VOL. 13:2, p. 168-179 |
| Index terms: | Asia Eastern Europe socialism liberalization economic policy models |
| Language: | eng |
| Abstract: | In this paper, a model is developed to show that the liberalization of a socialist economy has two opposite effects on the rent captured by government. The initial economic condition determines the relative strength of the two effects, and consequently the transition path and performance. Furthermore, a gradualist reform strategy adopted by a rent-seeking government cannot finish the transition toward a complete market economy. A new constitutional order and the rule of law are necessary to achieve that goal. |
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