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Growing apart? A tale of two republics: Estonia and Georgia

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  • Gylfason, Thorvaldur
  • Hochreiter, Eduard

Abstract

We compare and contrast the economic growth performance of Estonia and Georgia from the collapse of the Soviet Union in 1991 until 2006 and beyond in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to brute accumulation of capital (extensive growth). On the basis of a simple growth accounting exercise, we infer that advances in education at all levels, good governance, and institutional reforms have played a more significant role in raising economic output and efficiency in Estonia than in Georgia which remains marred by various problems related to weak governance in the public and private spheres.

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Bibliographic Info

Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 25 (2009)
Issue (Month): 3 (September)
Pages: 355-370

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Handle: RePEc:eee:poleco:v:25:y:2009:i:3:p:355-370

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Web page: http://www.elsevier.com/locate/inca/505544

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Keywords: Economic growth Governance Transition economies;

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Cited by:
  1. Zuzana Brixiova & Balazs Egert, 2010. "Modeling Institutions, Start-Ups And Productivity During Transition," William Davidson Institute Working Papers Series wp975, William Davidson Institute at the University of Michigan.
  2. Thorvaldur Gylfason & Eduard Hochreiter, 2010. "Growing Together: Croatia and Latvia," CESifo Working Paper Series 3202, CESifo Group Munich.
  3. Tadeusz Kowalski, 2013. "Poland’s Long-term Macroeconomic Performance and Recent Trends: A Comparative Analysis," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 14(1), pages 41-56, 05.
  4. Kowalski, Tadeusz, 2009. "Comparative analysis of economic transformation in Poland and selected central European countries," MPRA Paper 16610, University Library of Munich, Germany, revised 2011.
  5. Thorvaldur Gylfason & Per Magnus Wijkman, 2012. "Which Conflicts can the European Neighbourhood Policy Help Resolve?," CESifo Working Paper Series 3861, CESifo Group Munich.
  6. Thorvaldur Gylfason & Inmaculada Martínez-Zarzoso & Per Magnus Wijkman, 2014. "Can and Should the EU's Eastern Partnership be Saved?," CESifo Working Paper Series 4869, CESifo Group Munich.

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