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Book Launch – From Triumph to Crisis: Neoliberal Economic Reform
September 6, 2018 @ 3:30 pm EDT
BOOK LAUNCH – “FROM TRIUMPH TO CRISIS: NEOLIBERAL ECONOMIC REFORM IN POST-COMMUNIST COUNTRIES”:Hilary Appel and Mitchell Orenstein will present their new book “From Triumph to Crisis: Neoliberal Economic Reform in Post-communist Countries” (Cambridge University Press 2018), which accounts for the unexpected evolution of post-communist economic transition. Only in retrospect has it become clear that post-communist countries were among the most fervent and committed adopters of neoliberal economic reforms throughout the world. Not only did they manage to overcome the anticipated domestic opposition to mass privatization, shock therapy, and Washington Consensus reforms, but many countries, including Russia, adopted avant-garde neoliberal reforms like the flat tax and pension privatization.
Neoliberalism in the post-communist countries went farther than expected and lasted longer. Given the failure of existing theories to predict these outcomes, this book presents a new theory based not on domestic political-economic struggles, but on the imperatives of re-insertion into the international economy. The authors argue that countries engaged in “competitive signaling,” enacting many reforms in order to attract foreign investment. This signaling process explains the endurance and intensification of neoliberal reform for nearly two decades between 1989-2008 and its decline after 2008, when inflows of capital into the region suddenly dried up and when the appeal of more statist and nationalist economic models became more widely appealing.
NOTE: It is unclear whether Ukraine will be addressed directly … but it seems likely.
Thursday, September 6, 3:30 pm – 5:00 pm
The Elliott School of International Affairs, Room 505, Fifth Floor, George Washington University,
1957 “E” Street, NW, Washington, DC
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