Investment, Restructuring and Performance in Transition Economies
AbstractThis article seeks to test whether there is evidence that investment affects economic performance as measured by changes in GDP during transition: we find that differences in performance are associated mostly not with investment patterns but with varying marginal capital productivity. There is some evidence that higher investment generally contributes to greater restructuring. However, the link between industrial restructuring at the macro level and economic performance (GDP change) is not straightforward: shifts in industrial structure (industry/agriculture/services) and changes in the share of defence expenditure in GDP do not appear to affect performance, but there is a strong link between increases in export/GDP ratios and better capital productivity and performance.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Post-Communist Economies.
Volume (Year): 11 (1999)
Issue (Month): 4 ()
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" Convergence in Transition Countries--Focus on Investment: Central and Eastern Europe, 1970-1996,"
Economic Change and Restructuring,
Springer, vol. 34(3), pages 215-30.
- Saul Estrin & Stepana Lazarova & Giovanni Urga, 2001. "Convergence in Transition Countries – Focus on Investment: Central and Eastern Europe, 1970–1996," Economic Change and Restructuring, Springer, vol. 34(3), pages 215-230, October.
- Laurila, Juhani & Singh, Rupinder, 2000. "Sequential reform strategy: The case of Azerbaijan," BOFIT Discussion Papers 8/2000, Bank of Finland, Institute for Economies in Transition.
- Malaj, Arben & Mema, Fatmir, 2003. "Strategic privatisation: Its achievements and challenges," BERG Working Paper Series 41, Bamberg University, Bamberg Economic Research Group.
- Alexei Izyumov & John Vahaly, 2006. "New capital accumulation in transition economies: implications for capital-labor and capital-output ratios," Economic Change and Restructuring, Springer, vol. 39(1), pages 63-83, June.
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