The case of the economic reforms in Russia and China provide insight into differences in:
A) the production model and TFP
B) labor market differences
C) the "Big Bang" versus gradualist approach to development
D) an export led development model
E) political cronyism

Question

Quizplus · Accepted Answer

The economic reforms in Russia and China differed in their approach to development, with Russia implementing a "Big Bang" approach of rapid and drastic economic reforms, while China took a more gradualist approach. This difference in approach had significant consequences for the success and challenges of their economic reforms. The other choices, such as production model, labor market, export-led development model, and political cronyism may have played a role in the economic reforms, but they do not provide insight into the differences between the two countries' approaches to development.

The Case of the Economic Reforms in Russia and China