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Instituciones, recesiones y recuperación en las economías en transición

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Author Info
Geoffrey M. Hodgson () (Universidad de Hertfordshire)

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Abstract

This article analyses the 1989-2005 economic growth in the transitional economies in Europe and Central Asia, and signals factors that help to explain the differences in outcome. An econometric analysis finds prominent indices of property rights, corruption, economic freedom, tax incidence and civil liberties as statistically insignificant in this regard. Statistically significant variables include the degree of ethnic fractionalization and an index of democracy, both of which were negatively correlated with GDP growth. Overall, the analysis here shows the need for effective national institutions that can enforce legal and general rules of the economic game, reap positive benefits for democracy, and overcome the negative economic legacy of ethnic divisions.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ghodgson15.pdf
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Publisher Info
Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 8 (2006)
Issue (Month): 15 (July-December)
Pages: 43-68
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:rei:ecoins:v:8:y:2006:i:15:p:43-68

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Related research
Keywords: institutions; recessions; transitional economies; ethnic fractionalization; index of democracy;

Find related papers by JEL classification:
O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects

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  2. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August. [Downloadable!] (restricted)
  3. de Haan, Jakob & Siermann, Clemens L J, 1996. " New Evidence on the Relationship between Democracy and Economic Growth," Public Choice, Springer, vol. 86(1-2), pages 175-98, January.
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    Other versions:
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  10. Jan Winiecki, 2004. "Determinants of catching up or falling behind: interaction of formal and informal institutions," Post-Communist Economies, Taylor and Francis Journals, vol. 16(2), pages 137-152, June. [Downloadable!] (restricted)
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  12. Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-48, June. [Downloadable!] (restricted)
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  18. Alesina, Alberto & Baqir, Reza & Easterly, William, 1999. "Public goods and ethnic divisions," Policy Research Working Paper Series 2108, The World Bank. [Downloadable!]
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  19. John Marangos, 2004. "Was Shock Therapy Consistent with Democracy?," Review of Social Economy, Taylor and Francis Journals, vol. 62(2), pages 221-243, June. [Downloadable!] (restricted)
  20. Jan Svejnar, 2002. "Transition Economies: Performance and Challenges," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 3-28, Winter. [Downloadable!] (restricted)
    Other versions:
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This page was last updated on 2009-11-18.

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