caa a22 4500 397572921 CHVBK 20180308164846.0 cr unu---uuuuu 161202e199603 xx s 000 0 eng 10.1093/oxfordjournals.cje.a013611 doi (NATIONALLICENCE)oxford-10.1093/oxfordjournals.cje.a013611 Tsang Shu-ki Hong Kong Baptist University Against ‘big bang' in economic transition: normative and positive arguments [Elektronische Daten] [Shu-ki Tsang] This paper puts forward two major sets of institutional and systems arguments against implementing the ‘big bang' experiment in the transformation of centrally planned economies: (1) problems arising from the difficulties of establishing criteria for asset valuation in the transition and the large backlog of the ‘implicit contracts of socialism'; and (2) the danger of unleashing uncoordinated changes in subsystems that adjust at significantly different speeds. These arguments, covering both normative and technical considerations, are cast in a relatively broad framework and constitute an additional plea for caution against adventurism in the economic transition. © 1996 Academic Press Limited Articles nationallicence Cambridge Journal of Economics Oxford University Press 20/2(1996-03), 183-193 0309-166X 20:2<183 1996 20 cameco https://doi.org/10.1093/oxfordjournals.cje.a013611 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1093/oxfordjournals.cje.a013611 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Tsang Shu-ki Hong Kong Baptist University NATIONALLICENCE 773 0- Cambridge Journal of Economics Oxford University Press 20/2(1996-03), 183-193 0309-166X 20:2<183 1996 20 cameco Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford