Equality, Participation, Transition: Essays in Honour of Branko Horvat

Milica Uvalić and Vojmir Franicaević xxxi
might be paid to the ownership trajectory that the firm has followed.
On balance, it seems that for Estonian firms it is difficult to draw definite
conclusions as to whether private ownership does or does not
deliver improved performance.
The last paper, by Ivo Bićanić (Chapter 11), is dedicated to growth
theory and growth prospects in transition economies. The author criticizes
the dominant paradigm of transition, in both theory and policy,
based on the notions of linearity and optimism, and presents a rather
critical evaluation of some existing growth models, primarily stressing
their overemphasis of optimism and linearity in development. The varied
historical experience with growth and the implications of modern
growth theory clearly cast a shadow on the optimistic and linear
approach, suggesting that growth and catching up are not the only,
inevitable option. Moreover, the variety of transition paths in transition
economies clearly runs against transition linearity, and therefore
alternative approaches need to be developed. Bićanić expects that the
variety of transition paths is likely to increase even further in the forthcoming
period, during the second stage of transition.
While all the eleven essays and the Foreword to this volume, offered
as a sign of recognition and esteem for Branko Horvat, are to be judged
for their own merit, we as editors very much hope that this book will
lead towards a further and deeper appraisal and understanding of
Branko Horvat’s work and his contributions to economic and social sciences.
We believe he certainly deserves it.