Asian Economies in Transition: Reforming Centrally Planned Economies

This work analyzes and evaluates the experience of 11 Asian economies undertaking the transition from central planning to a more market-oriented approach. China, Indochina, Mongolia, Azerbaijan and the central Asian Republics are the focus of the book, which begins with a discussion of the Chinese model to transition which highlights its failures as well as its successes. Vietnam's experience, while offering the closest parallel to China's reform strategy, is shown to contain more explicit macroeconomic policy reforms and greater practical attention to the problem of inefficient state enterprises. The book also discusses the less happy experience of the Asian republics of the former Soviet Union, the break up of the Ruble zone and the interesting counterpoint provided by the Monogolian economy. The Tumen River project is also examined as an example of co-operation between reformed and non-reformed socialist economics.