Instituciones, recesiones y recuperación en las economías en transición
AbstractThis 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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Bibliographic InfoArticle 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)
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More information through EDIRC
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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