This study contributes to the on–going worldwide debate on the future form of banking systems by examining the performance of a socialist ASEAN system—Vietnam—with four other ASEAN but capitalist and transition economies—Thailand, Philippines, Indonesia and China. The study finds that over the 1996–2009 period, the Vietnamese banking system may have performed better than the comparator countrie...

This paper is concerned with three questions: (a) how would a stockmarket help economic and industrial development in a country like China; (b) will a stockmarket be system-compatible; and (c) if a full-fledged stockmarket is indeed introduced in a socialist economy, can its “negative influences” (speculation, booms and crashes) be minimized? These issues are examined analytically with the help...

Over the last two decades, the most prominent social and economic changes in the world have been observed in formerly socialist economies. The process, commonly understood as ‘transition’, has gendered consequences and differential implications for men and women. Though much of the research on transitional economies has overlooked the gender dimension, some recent studies on Russia and Central ...

The purpose of this paper is to investigate the informational requirements of resource allocation processes for convex production economies. First, we establish a lower bound of the message space of an informationally decentralized mechanism that realizes Pareto efficient allocations over the class of classical production economies. Then, it is shown that this lower bound is exactly the size of...

The radical political and economic reforms sweeping through former socialist countries during the last decade have opened rich opportunities for privately owned businesses to emerge and develop. Since the market institutions and infrastructures in these countries are largely underdeveloped, private firms in transition economies rely extensively on interfirm partnerships. This raises the questio...

The capitalist and socialist societies of the 20 century assigned firms different roles within their economic systems. Enterprises transforming themselves from socialism to market economies thus face fundamental organizational restructuring. Many former state-owned firms in the transitional economies of Central and Eastern Europe failed, so far. Firms pursued primarily defensive downsizing, rat...

Since the collapse of the Soviet Union it has seemed to many that the socialist calculation debate is essentially over, with a decisive verdict in favor of the market. Recent instabilities in the world market are again prompting the question whether some form of conscious regulation of economies may be appropriate. We argue that the increasing power of modern computer technology along with the ...