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单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Economics of Transition,1,I. Introduction: Modern economics and economics of transition,2,I-1. The Institutions,Formal (written, forced) rules of games or constraints of behavior, in forms of laws, regulations, and organizations;,Social codes: informal rules such as morality, culture, religion, ideology, ,Possible switch between formal and informal institutions.,3,Institutions as public goods,An Institution is a set of incentives or constraints on individuals behaviors in the relationships among individuals;,Effective Institutions are public goods which provide “orders” of the system and predictability of others behaviors.,4,Externalities and public choices,Externalities of human behaviors;,Difficulty of pricing the externalities.,Public goods and public choices.,5,I-2. Institutional Economics and its “subfields”,Institutional Economics,：,General theory about Institutions, their roles for economic behavior and consequences, how and why “institutional changes” in general, good or bad institutions, .,Y,F,（,A,）,or Y=F(B),Comparative Economics (,比较经济学）：,positive and normative comparison of differences of institutions, A,&,B,：,A B,Economics of Transition (ET,转轨经济学或过渡经济学,),：,B is better than A, how to change from A to B,A,B,6,What special? difference from Institutional Economics,- There are already theories on “institutional changes”, what is special for economics of transition?,- The institutional changes studied by North & others were processes in which institutions were evolving toward a “previously unknown” institutions,“unintended consequence” and “evolution,”.,A,（,B,）,Economic Transition from Planned economy to Market economy in reality since late 1979 and particularly 1989, is special in the sense that people know where to change to it is a process where the institutions changed to a known and existing system, and there a know “objective“,7,What special? difference from Comparative Economics,The knowledge of that A is worse than B is already available, which is the result from comparative economics;,Therefore, the real issue of Economics of Transition is not why you want to go from A to B, but HOW,!,- how to “across the river”.,8,III. The Objective model,Modern Market Economy:,17-century market economy +,Social security;,Legal system (against externalities);,Regulation;,Macroeconomic policies.,9,IV. Transition process in reality and the theoretical issues,10,Initial point and objective target,- the transition is in BETWEEN!,A B,11,The core issues,Resistance or Opposition to reforms: vest-interests, conflicts of economic interests among groups;,Wrong policy or approach to reforms:,limited knowledge or information about institutions and institutional changes.,- therefore, 2 fundamental issues of ET are:,1. Political Economy of oppositions against the “efficiency improvement”, and,2. optimization of transition under imperfect information.,12,General Theory of ET,Refuse to reform,Do not know,how to reform,Vest-interests,From old system,Imperfect knowledge,of institutions,phenomena,Analytical,Factor,Theory,Non-Pareto,Changes,Incoherence,costs,13,
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