Convergence at Last? : Evidence from Transition Countries
AbstractThis 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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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Eastern European Economics.
Volume (Year): 42 (2004)
Issue (Month): 4 (July)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106044
Other versions of this item:
- Saso Polanec, 2004. "Convergence at last? Evidence from Transition Countries," LICOS Discussion Papers 14404, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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- Spruk, Rok, 2011. "Productivity and income convergence in transition: theory and evidence from Central Europe," MPRA Paper 33389, University Library of Munich, Germany.
- Artelaris, Panagiotis & Arvanitidis, Paschalis & Petrakos, George, 2006. "Theoretical and Methodological Study on Dynamic Growth Regions and Factors Explaining their Growth Performance," Papers DYNREG02, Economic and Social Research Institute (ESRI).
- 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.
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