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The case of transition economies: what institutions matter for growth?

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  • Azim Raimbaev
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    Abstract

    There is a consensus among scholars that institutions (i.e. norms and regulations) are country specific. The article aims to contribute to the debate by examining what types of institutions have been most important for growth in transition countries. It employs a new set of institutional variables of the World Bank against the commonly used transition index of the European Bank for Reconstruction and Development. It appears that among the institutional variables government effectiveness has the most significant impact on growth in former planned economies. At the same time, classical growth factors seem to be more important for growth than institutions.

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    File URL: http://www.eeri.eu/documents/jee/JEE_2011_02_01.pdf
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    Bibliographic Info

    Article provided by Economics and Econometrics Research Institute (EERI), Brussels in its journal Journal of Economics and Econometrics.

    Volume (Year): 54 (2011)
    Issue (Month): 2 ()
    Pages: 1-33

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    Handle: RePEc:eei:journl:v:54:y:2011:i:2:p:1-33

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    Related research

    Keywords: Institutions; governance; transition economies; growth.;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Karsten Staehr, 2003. "Reforms and economic growth in transition economies: Complementarity, sequencing and speed," Macroeconomics 0303003, EconWPA.
    2. Elisabetta Falcetti & Tatiana Lysenko & Peter Sanfey, 2005. "Reforms and growth in transition: re-examining the evidence," Working Papers 90, European Bank for Reconstruction and Development, Office of the Chief Economist.
    3. Jorge Braga De Macedo & Joaquim Oliveira Martins, 2008. "Growth, reform indicators and policy complementarities," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 16(2), pages 141-164, 04.
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    Cited by:
    1. Jan Babecky & Tomas Havranek, 2013. "Structural Reforms and Growth in Transition: A Meta-Analysis," William Davidson Institute Working Papers Series wp1057, William Davidson Institute at the University of Michigan.
    2. Antonio Carvalho & Matthew Cable & Rabindra Nepal & Tooraj Jamasb, 2013. "Market-Oriented Structural Reforms and Human Development: Evidence from Transition Economies," Discussion Papers Series 493, School of Economics, University of Queensland, Australia.
    3. Jan Babecky & Tomas Havranek, 2014. "Structural reforms and growth in transition," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 22(1), pages 13-42, 01.
    4. Doris Hanzl-Weiss & Mario Holzner & Roman Stöllinger, 2013. "Monthly Report No. 4/2013," wiiw Monthly Reports 2013-04, The Vienna Institute for International Economic Studies, wiiw.
    5. Pavel Ciaian & Jan Pokrivcak & d'Artis Kancs, 2011. "The Rise and Fall of Enforcement Institutions: An Example of Religion and Secularism," EERI Research Paper Series EERI_RP_2011_14, Economics and Econometrics Research Institute (EERI), Brussels.

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