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Economics, Institutions, History and Geography in the Transition Process

Author

Listed:
  • Charles Wyplosz

    (The Graduate Institute of International Economics and CEPR)

Abstract

This paper provides a comparative analysis of macroeconomic trends in the transition economies over the 1992-2003 period. It also describes some differences between the transition economies and emerging markets more generally. Good governance and appropriate institutions are found to be essential ingredients for success. However, history and geography seem to have predetermined the economic successes and failures. Being close to the EU provided the advantage of future accession while having been part of the Soviet Union proved to be a severe handicap.

Suggested Citation

  • Charles Wyplosz, 2005. "Economics, Institutions, History and Geography in the Transition Process," ECE Discussion Papers Series 2005_8, UNECE.
    • Handle: RePEc:ece:dispap:2005_8
    as

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    File URL: http://www.unece.org/fileadmin/DAM/oes/disc_papers/ECE_DP_2005-8.pdf
    File Function: First version, 2005
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    References listed on IDEAS

    as
    1. S. Fisher & R. Sahay & C. A. Vegh, 1997. "Stabilization and Growth in Transition Economies: The Early Experience," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 5.
    2. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    3. Kaufmann, Daniel & Kraay, Aart & Mastruzzi, Massimo, 2005. "Governance matters IV : governance indicators for 1996-2004," Policy Research Working Paper Series 3630, The World Bank.
    4. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    5. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
    6. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Transition economy; European macroeconomics; Economic institutions; Economic growth;
    All these keywords.

    JEL classification:

    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • N9 - Economic History - - Regional and Urban History

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