China A Chinese University in Transition from the Planned Economy to the Market Economy: Tongji University

2012 ◽  
Vol 3 (3) ◽  
pp. 79-101
Author(s):  
Katarzyna Kubiszewska

The article presents main aspects of the development of banking markets in two Balkan countries – Kosovo and Montenegro. Both of them are charaterised by similar recent history, both in political and economical fields. Their financial sectors had to be built almost from scratch. The author describes the stages of development of competition in the banking sectors, using the following ratios: performace, structure, liquidity. The data is based on the information achieved from Kosovar and Montenegral central banks. Comparison of their achievements are presented on the pentagon adopted from macroeconomy stability pentagon, introduced in Poland by Institute for Market, Consumption and Business Cycles Research. The long way from centrally planned economy to market economy, in both countries, in both political and financial aspects has resulted in a successful transformation. The growing economic strength in Kosovo and Montenegro will allow their financial institutions to improve their performance and expand their activities in the future.


2018 ◽  
Vol 2018 (97 (153)) ◽  
pp. 161-178
Author(s):  
Anna Karmańska

This article presents an account of an interview with Zdzisław Fedak, PhD, who participated in the work on the systemic solutions in accounting in the People’s Republic of Poland (PRL), and currently is an animator of improvements in Polish accounting practice in the conditions of market economy. The basic reason for this publication is the need to fill the gap in the picture of the determinants and characteristics of accountancy in Poland in the period of non-market economy, taking advantage of the expertise and experience of people knowing the status quo in this area. This text is part of the trend to document the history of accountancy by means of a research method known as oral history.


Author(s):  
David Sarokin ◽  
Jay Schulkin

The Soviet Union tried to manage the information needed to run a centrally-planned economy. Their efforts failed in large measure due to information shortcomings. Capitalism is a much better information processor, relying on the ‘invisible hand” to recognize and respond to market signals. But capitalism can have information failures too, as evidenced by Enron, the subprime mortgage crisis, and the work of information economists.


2008 ◽  
Vol 41 (3) ◽  
pp. 301-316 ◽  
Author(s):  
Murat M. Kenisarin ◽  
Philip Andrews-Speed

The modernisation of the economies of the former Soviet Union (FSU) will require substantial levels of foreign direct investment (FDI). The aim of this study is to examine factors which may be instrumental in determining this level of the FDI. It achieves this by establishing quantitative relationships between levels of FDI per capita to the year 2004 and three sets of indicators relating, respectively, to governance, economic freedom, and corruption perception. The paper demonstrates that the level of FDI in FSU states has been determined to a significant extent by the degree of reform from a planned economy towards a market economy.


2018 ◽  
Vol 2018 (99 (155)) ◽  
pp. 9-24
Author(s):  
Zdzisław Fedak ◽  
Anna Karmańska

Accountancy in Poland in the period of centrally planned economy. A few comments from experience This article presents comments on selected aspects of the accounting law applicable in Poland in the period of the centrally planned economy. They were made based on the interview with Mr. Zdzisław Fedak, PhD, a participant of the works on the systemic solutions in accountancy in the People’s Republic of Poland (PRL). He is currently trying to stimulate improvements in the Polish accountancy practice in the conditions of market economy. The basic reason for this publication is the need to fill the gap in the picture of the surroundings and unique characteristics of accountancy in Poland in the period of the nonmarket economy, while taking into account the expertise and experience of the people who knew well the reality of those times. This text is a part of the trend to document the history of accountancy by means of the research method known as oral history.


2011 ◽  
Vol 12 (3) ◽  
pp. 20 ◽  
Author(s):  
Clement Chow Kong Wing

<span>This paper attempts to provide an explanation to the success of the gradual reform strategy of China by showing that such a strategy can minimize the uncertainty created in the process of transition from a centrally-planned economy to a market economy. In a commitment versus flexibility game, low uncertainty motivates enterprises to adopt a strategy of pre-committing their investment which is crucial in sustaining a faster growth rate in the industry. In addition, Chinas successful use of market forces of competition and entry is also an important factor in the transition process.</span>


2010 ◽  
Vol 3 (1) ◽  
pp. 53-60
Author(s):  
Bozena Leven

Prior to Poland's transition from central planning to a market system, which began in 1990, schools of business were non-existent in that country. Instead, university level instruction on economics during the socialist period was closely tied to ideological priorities, and limited to imparting skills suitable for planned economy. All universities were owned by the state, heavily politicized, and solely focused on supporting a centrally planned economy.  There was no meaningful attempt to impart, or even describe, market oriented theories, leaving Poland almost wholly without the basic human capital needed to run a market economy. This backdrop makes higher education reform particularly crucial for Poland’s continued economic development and, to date, marketization has fundamentally transformed that sector.  Poland’s current higher education system is now compatible with those of many Western European countries, relies on standard Western curricula, and enjoys significant academic autonomy, which exceeds that of some more developed Western countries. This sector has also seen an unprecedented growth in economics and business programs enrollments, along with the formation of private universities.  Indeed, the depth and rapidity of Poland's progress in reforming higher education stands in marked contrast to that of other former centrally planned economies, and may serve as an interesting case study for potential reforms in Russia and other former Soviet republics.  In this paper we describe the progress and effects of several major reforms in Poland's higher business education, examining changes in funding, potential funding sources, the structure of faculty governance, educational programs and degrees granted, the formation of new curricula, and Poland’s system of faculty promotion. Following this examination, we identify and discuss a number of continuing systemic obstacles to further progress in this area, and discuss how they might be addressed.  In addition, we apply Western metrics to assess and evaluate the impact of reform on the current and future quality of Poland's business education. One consequence of Poland's transition to a market economy is its high level of governmental involvement in income redistribution policies,  and  a  quasi-monopolistic position regarding the provision of such services as for example, health care, and quality higher education .  Because these governmental policies have parallels in the experiences of European countries, those experiences provide insights into possible outcomes upon which various policy recommendations for Poland may be drawn.


Author(s):  
Le Net

This chapter examines the recent changes to the Vietnamese Civil Code and its impact on contract formation and third party beneficiaries. Since the enactment of the first modern civil code in 1995, major revisions have been made every ten years with the 2015 Code repealing more than 50 per cent of the 2005 Code; representing more than 300 articles of the 2005 Code. Concepts like apparent authority were only recognized in 2005, while the notion of an offer to the world (rather than to specific parties) was only recognized in 2015. The 2015 Code was a product of the move from a planned economy to a socialist-oriented free market economy. The challenge of the Code was to address state interest and regulatory concerns to modify the norms of contractual freedom found in the Code.


2020 ◽  
Vol 119 (1) ◽  
pp. 31-51
Author(s):  
Jessica Whyte

Today, it is often forgotten that the socialist calculation debate of the 1920s and 1930s was not only about whether market societies were more economically efficient than planned ones; more crucially, Ludwig von Mises and his disciple Friedrich Hayek depicted economic planning as a threat to the moral and political order of “Western civilization.” A planned economy, these early neoliberals argued, would override the “democracy of consumers” through which individuals registered their own preferences on the market and threaten individual freedom and social peace. This article argues that early neoliberal thinkers mobilized a racialized argument against economic planning, which they depicted as a threat from “the East” and a regression to a “primitive” pre-capitalist, egalitarian morality. Against this neoliberal argument, I retrieve the Austrian philosopher Otto Neurath’s argument that a capitalist market economy is inherently violent and requires the suppression of non-market forms of life.


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