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Convergence at Last? : Evidence from Transition Countries

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SAŠO POLANEC

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Abstract

This article reexamines the hypotheses of absolute and conditional convergence for a sample of twenty-five transition countries over the period from 1990 to 2002. After splitting the sample into three four-year periods, the hypotheses are confirmed only for the latest period of transition. For the early transition stage, we find a negative relation between productivity growth, on one hand, and the pace of price liberalization and initial conditions, measured by initial market distortions, on the other hand. In addition, past/ lagged institutional reforms are found to enhance productivity growth in the intermediate and advanced stages of transition. The confirmation of convergence for the latest stage of transition, however, should not yet be considered as a sign of a permanent return to convergence in these countries as it could be the result of differences in the transition cycles.

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Article provided by M.E. Sharpe, Inc. in its journal Eastern European Economics.

Volume (Year): 42 (2004)
Issue (Month): 4 (July)
Pages: 55-80
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Handle: RePEc:mes:eaeuec:v:42:y:2004:i:4:p:55-80

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References listed on IDEAS
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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  2. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Quah, Danny, 1999. "Cross-Country Growth Comparison: Theory to Empirics," CEPR Discussion Papers 2294, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  4. Maurizio Iacopetta, 2004. "Dissemination of Technology in Market and Planned Economies," The B.E. Journal of Macroeconomics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
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  6. Nauro F. Campos & Fabrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," William Davidson Institute Working Papers Series 470, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  18. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank. [Downloadable!]
  19. Gérard Roland & Thierry Verdier, 1999. "Transition and the output fall," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 7(1), pages 1-28, March. [Downloadable!] (restricted)
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  20. Connolly, Michelle, 1999. "North-South Technological Diffusion: A New Case for Dynamic Gains from Trade," Working Papers 99-08, Duke University, Department of Economics. [Downloadable!]
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(explanations, 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.)

  1. Young-Sun Lee & Hyung-Gon Jeong, 2006. "The determinants of economic growth of transition economies: Economic reform versus initial conditions," International Economic Journal, Korean International Economic Association, vol. 20(2), pages 241-252, June. [Downloadable!] (restricted)
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