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Economic reforms and human development: evidence from transition economies

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  • Antonio Carvalho
  • Rabindra Nepal
  • Tooraj Jamasb

Abstract

Do market-oriented economic reforms result in higher levels of human well-being? This article studies the impact of macro-level institutional and infrastructure reforms on the economic, educational and health dimensions of human well-being among 25 transition economies. We use panel data econometrics based on the LSDVC technique to analyse the effects of market-oriented reforms on the human development index (HDI), as a measure of human well-being, from 1992 to 2007. The results show the complexity of reform impacts in transition countries. They show that institutional and economic reforms led to positive economic effect and significant impacts on other dimensions of human development. We find some positive economic impacts from infrastructure sectors reforms. However, not every reform measure appears to generate positive impacts. Large-scale privatizations show negative effects in health and economic outcomes. The overall results show the importance of the interaction among different reform measures and the combined effect of these on human development.

Suggested Citation

  • Antonio Carvalho & Rabindra Nepal & Tooraj Jamasb, 2016. "Economic reforms and human development: evidence from transition economies," Applied Economics, Taylor & Francis Journals, vol. 48(14), pages 1330-1347, March.
    • Handle: RePEc:taf:applec:v:48:y:2016:i:14:p:1330-1347
    DOI: 10.1080/00036846.2015.1100251
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    References listed on IDEAS

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    1. Eduardo Lora, 1997. "A Decade of Structural Reform in Latin America: What Has Been Reformed and How to Measure It," Research Department Publications 4074, Inter-American Development Bank, Research Department.
    2. Eduardo Lora, 1997. "A Decade of Structural Reform in Latin America: What Has Been Reformed and How to Measure It," Research Department Publications 4074, Inter-American Development Bank, Research Department.
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    1. Tooraj Jamasb & Rabindra Nepal & Govinda R. Timilsina, 2017. "A Quarter Century Effort Yet to Come of Age: A Survey of Electricity Sector Reform in Developing Countries," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    2. Amponsah, Mary & Agbola, Frank W. & Mahmood, Amir, 2021. "The impact of informality on inclusive growth in Sub-Saharan Africa: Does financial inclusion matter?," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1259-1286.
    3. Tarabar, Danko, 2017. "Culture, democracy, and market reforms: Evidence from transition countries," Journal of Comparative Economics, Elsevier, vol. 45(3), pages 456-480.
    4. Adwoa Asantewaa & Tooraj Jamasb & Manuel Llorca, 2022. "Electricity Sector Reform Performance in Sub-Saharan Africa: A Parametric Distance Function Approach," Energies, MDPI, vol. 15(6), pages 1-29, March.
    5. Boateng, Elliot & Agbola, Frank W. & Mahmood, Amir, 2021. "Foreign aid volatility and economic growth in Sub-Saharan Africa: Does institutional quality matter?," Economic Modelling, Elsevier, vol. 96(C), pages 111-127.
    6. Nepal, Rabindra & Phoumin, Han & Musibau, Hammed & Jamasb, Tooraj, 2022. "The socio-economic impacts of energy policy reform through the lens of the power sector – Does cross-sectional dependence matter?," Energy Policy, Elsevier, vol. 167(C).
    7. Aravind M, 2019. "Economic Performance and Human Development: A Critical Examination on SAARC Region," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 22(71), pages 79-92, March.

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