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- W2091584158 abstract "China has reformed gradually by introducing competition into a state-controlled economy with dramatic effects on its growth rate. Eastern Europe reforms were accompanied by output collapse. The difference lies in the sequencing of reforms and the constraints imposed by their initial conditions. China encouraged competitive entry by small firms, and delayed difficult enterprise reforms. East Europe's extensive insurance systems required heavy taxation while China's over-insured enterprise sector was smaller and relatively declining. China cut expenditure by devolving and reducing insurance, while Eastern Europeans increased demands for insurance, keeping expenditures and tax rates oppressively heavy." @default.
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- W2091584158 date "1993-01-01" @default.
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- W2091584158 title "Transformation in mature versus emerging economies: Why has Hungary been less successful than China?" @default.
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- W2091584158 doi "https://doi.org/10.1016/1043-951x(93)90011-n" @default.
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