Structural Factors in the Economic Reforms of China, Eastern Europe, and the Former Soviet Union

Sachs, Jeffrey D.; Woo, Wing Thye; Fischer, Stanley; Hughes, Gordon

doi:10.2307/1344459

Cited by 365 publications

(147 citation statements)

References 6 publications

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“…This heralds back to Sachs and Woo (1994), who contrast the paths of reform in China and Russia emphasizing the very different starting points when transition from planning occurred. Specifically, Chinese liberalization was a process that continually involved the local state.…”

Section: Identifying Relevant Informal Institutions In the Bric Countmentioning

confidence: 99%

“…In practice, this has so far proved more continuous and stronger than the institutions of the more formal market-based governance arrangements. It is argued (Sachs & Woo, 1994) that in part this has to do with the more deeply entrenched roots of the planning economy in Russia than in China and therefore of ways of dealing with its constraints. The blat system has endured well beyond the collapse of the Soviet system and it is on this that we focus below.…”

Section: Identifying Relevant Informal Institutions In the Bric Countmentioning

confidence: 99%

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The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

2010

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This paper argues that the role of informal institutions as well as formal ones is central to understanding the functioning of corporate governance. We focus on the four largest emerging economies: Brazil, Russia, India, and Chinacommonly referred to as the BRIC countries. Our analysis is based on the Helmke and Levitsky framework of informal institutions and focuses on two related aspects of corporate governance: firm ownership structures and property rights; and the relationship between firms and external investors. We argue that for China and some states of India, "substitutive" informal institutions, whereby informal institutions substitute for and replace ineffective formal institutions, are critical in creating corporate governance leading to enhanced domestic and foreign investment. In contrast, Russia is characterized by "competing" informal institutions whereby various informal mechanisms of corporate governance associated with corruption and clientelism undermine the functioning of reasonably well set-out formal institutions relating to shareholder rights and relations with investors. Finally Brazil is characterized by "accommodating" informal institutions which get around the effectively enforced but restrictive formal institutions and reconcile varying objectives that are held between actors in formal and informal institutions.

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Section: Identifying Relevant Informal Institutions In the Bric Countmentioning

confidence: 99%

Section: Identifying Relevant Informal Institutions In the Bric Countmentioning

confidence: 99%

The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

2010

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“…Some claim rural development has occurred primarily as a natural result of low initial levels of development (Sachs and Woo, 1994). Others give credit to policymakers, but allocate credit in varying degrees between institutional reformers and those in charge of public investments and other more traditional venues of agricultural development.…”

mentioning

confidence: 99%

Transition and Agriculture

Rozelle

Swinnen

2002

SSRN Journal

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“…But then how can we explain the success of China, where the party-state remains in tact and the economy continues to grow? In a fascinating defense of neoliberalism Sachs and Woo (1994) argue that Russia and China are not comparable. China is an underdeveloped agrarian society mak-152 ing a transition to industrialism, whereas Russia is an overdeveloped industrial society needing to restructure its sclerotic economy.…”

Section: Neoliberal Evolutionary and Institutional Theoriesmentioning

confidence: 99%

“…There is considerable disagreement over the performance of the large state enterprises. Many, such as Sachs and Woo (1994) or Qian and Weingast (1995), are convinced that the state sector is dominated by "standard socialist dinosaurs~" and all the dynamism has come from the growth of town and village enterprises (TVE). Others, such as Groves et a1.…”

Section: Notesmentioning

confidence: 99%

State-Society Synergy: Government and Social Capital in Development

Mohapatra¹,

Evans²

1998

Contemporary Sociology

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Description:Recent movement toward more comprehensive institutional perspectives on development has been stimulated by two distinct challenges to narrow development theories. Theorists of "social capital" have highlighted the degree to which norms of trust and the interpersonal networks on which they are based constitute economic assets. Revisionist theories of the "East Asian Miracle" have emphasized the central role of public institutions in capitalist development. The introduction and the articles that follow attempt to bring these two disparate traditions together by examining the potentially positive role of relations which join state and civil society in shared developmental projects. The five studies presented in this volume draw on the experience of a range of countries, including Russia, China, Mexico, Brazil, Taiwan, and India. In combination, they provide a powerful case for the proposition that active governments and mobilized communities can enhance each other's developmental efforts and generate "state-society synergy." RESEARCH SERIES / NUMBER 94 STATE-SOCIETY SYNERGY:GOVERNMENT AND SOCIAL CAPITAL IN DEVELOPMENT Peter Evans, Editor UNIVERSITY OF CALIFORNIA AT BERKELEYThe material in this volume first appeared as a special section of the June 1996 issue of World Development (vol. 24, no. 6). We are very grateful to Elsevier Science Ltd. (which retains the copyright) for having granted us permission to publish this material as a separate volume. Library of Congress Cataloging-in-Publication DataState-society synergy : government and social capital in development / Peter Evans, editor. p. cm. -(Research series ; no. 94) Includes bibliographical references. Summary. -Recent movement toward more comprehensive institutional perspectives on development has been stimulated by two distinct challenges to narrow development theories. Theorists of "social capital" have highlighted the degree to which norms of trust and the interpersonal networks on which they are based constitute economic assets. Revionist theories of the "East Asian Miracle" have emphasized the central role of public institutions in capitalist development. This introduction and the articles that follow attempt to bring these two disparate traditions together by examining the potentially positive role of relations which join state and civil society in shared development projects.Contemporary development strategies focus attention on macroeconomic results without contributing very much to the understanding of the microinstitutional foundations on which they depend. Too often development theory has operated, de facto, on the premise that the only institutions that mattered were those directly facilitating market transactions. Narrowly focused theories fail to incorporate the importance of informal norms and networks that make people collectively productive. They also distract attention from "soft technologies" of institutional change, which can produce results well out of proportion to the resources required to implement them. Without denying ...

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Structural Factors in the Economic Reforms of China, Eastern Europe, and the Former Soviet Union

Cited by 365 publications

References 6 publications

The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

Transition and Agriculture

State-Society Synergy: Government and Social Capital in Development

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