What Explains the Rapid Growth in Transition Economies?
AbstractThis paper analytically explores and empirically tests a number of hypotheses to explain the rapid growth in transition economies. Using the latest panel data, the paper finds that growth in transition economies has been higher because of the recovery of lost output, progress in market reforms, and favorable external conditions. These results are consistent with estimates from the global sample that includes 123 countries, and are robust to instrumental variable estimations and other robustness tests. A general implication of the findings is that some of the factors behind the rapid growth are unlikely to continue for a very long time and that the challenge would be to further improve the investment climate, which will require broadening the scope of macroeconomic reform into a second generation of reforms encompassing structural and institutional areas.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Palgrave Macmillan in its journal IMF Staff Papers.
Volume (Year): 56 (2009)
Issue (Month): 4 (November)
Contact details of provider:
Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Jesus Crespo Cuaresma & Miroslava Havettova & Martin Labaj, 2012.
"Income convergence prospects in Europe: Assessing the role of human capital dynamics,"
Department of Economics Working Papers
wuwp143, Vienna University of Economics, Department of Economics.
- Crespo Cuaresma, Jesus & Havettová, Miroslava & Lábaj, Martin, 2013. "Income convergence prospects in Europe: Assessing the role of human capital dynamics," Economic Systems, Elsevier, vol. 37(4), pages 493-507.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Elizabeth Gale).
If references are entirely missing, you can add them using this form.