The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies.

This work compares the economic systems of regions from free market to communism. Since the fall of the Soviet Union and the movement toward entrepreneurship in the remaining communist countries, this field of study has changed. This text concentrates on these movements and their implications.

Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

3 edge, methods and theory. I turn now to some of my own reflections on this score. Some Reflections My first proposition is that if we are interested in analyzing the performance and dynamic properties of the world's economies, it is only at significant peril that comparative economists can overlook noneconomic or "political" factors. This is not to say that it is illegitimate to abstract from non-economic factors for particular purposes; rather, such abstraction should occur only with cogni zance of the influences being suppressed. I have argued elsewhere that the analytical compromise in suppressing noneconomic variables is greater for the study of planned than for market economies. [7] Borrowing from Polanyi [8], it is claimed that in market sys tems the economic sphere is disembedded from (separate and not subordinate to) the political, social and cultural spheres, while in planned systems the economic sphere is embedded in the noneconomic spheres. To be sure, market economies are strongly affected by political and cultural factors, but planned economies have and often exercise the potential to let political goals dominate in making production, allocational, or distributional choices. Indeed, it is difficult in practice to separate out what are political and what are economic decisions in planned systems.

The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we test whether the Bank of Russia reacts to changes in inflation, the output gap and the exchange rate in a consistent and predictable manner. Our results indicate that, during the period from 1993 to 2004, the Bank of Russia used monetary aggregates as the main policy instrument. Some estimations provide evidence that the Bank of Russia was more concerned with reducing inflation before 1995, while the priorities shifted towards exchange rate stabilization after 1995.

Comparing Economic Systems: A Political-Economic Approach presents a political-economic approach to the analysis and comparison of different types of economic systems. Full, integrated political-economic case studies of several representative countries, including Japan, Sweden, and France, are given. This book consists of six parts and begins with an overview of some definitions of the main kinds of political and economic systems; theoretical arguments from various points of view about how political and economic systems relate to each other; and the criteria for evaluating different political-economic systems. The next section considers three essentially market capitalist systems: Japan, Sweden, and France. The Soviet Union, a centrally planned, allegedly socialist economy, is examined next. More specifically, Soviet development from 1917 to 1928 and from 1928 to the present is discussed. Central planning in developing countries such as China and Cuba is also explored. Finally, the theory of market socialism is analyzed, citing the cases of Hungary and Yugoslavia. This monograph will be of value to politicians, economists, and economic policymakers.

This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971.

A comprehensive reevaluation of the nature of economic systems across the globe, A New View of Comparative Economic Systems is today's choice for today's world. This exciting text is not merely a re-treading of an obsolete Soviet-oriented text, but a fresh, new, and comprehensive reappraisal of the nature and study of economic systems. A New View of Comparative Economic Systems defines a new approach and will set the standard for years to come in Comparative Economic courses.

Gregory and Stuart have revamped this definitive text to mirror major changes within the global economy of the 21st century. In addition to a new title, the book now features more emphasis on transition, the acceleration of globalization, present trading agreements, and recent exchange rate regimes. The authors have incorporated the latest ideas on privatization, the changing role of the state, and developments in corporate governance. The discussion of key regional clusters covers Asia, as well as Western and Eastern Europe—giving students a wide variety of case studies for comparison.