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The Political Economy of Reforms: Empirical Evidence from Post-Communist Transition in the 1990s

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  • Kim, Byung-Yeon

    (University of Essex)

  • Jukka Pirttila

Abstract

Using a novel data set from post-communist countries in the 1990s, this paper examines the link-ages between political constraints, economic reforms and growth. Results from a dynamic panel analysis suggest that public support for reform is negatively associated with increases in income inequality and unemployment. In addition, both ex post and ex ante political constraints referring to the extent of public support affect progress in economic reforms, which in turn determines eco-nomic growth. These findings highlight that while economic reforms are needed to foster growth, they must be designed in such a way that they do not undermine political support for reform.

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Bibliographic Info

Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 120.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:120

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Keywords: political constraints; economic reform; transition; growth; dynamic panel models;

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  1. Philippe Aghion & Olivier J. Blanchard, 1994. "On the Speed of Transition in Central Europe," NBER Chapters, in: NBER Macroeconomics Annual 1994, Volume 9, pages 283-330 National Bureau of Economic Research, Inc.
  2. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
  3. Fidrmuc, J., 1998. "Political Support for Reforms: Economics of Voting in Transition Countries," Discussion Paper 1998-98, Tilburg University, Center for Economic Research.
  4. International Monetary Fund, 2000. "Institutions Matter in Transition, But so do Policies," IMF Working Papers 00/70, International Monetary Fund.
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  6. Dewatripont, Mathias & Roland, Gérard, 1993. "The Design of Reform Packages Under Uncertainty," CEPR Discussion Papers 860, C.E.P.R. Discussion Papers.
  7. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
  8. Karsten Staehr, 2003. "Reforms and economic growth in transition economies: Complementarity, sequencing and speed," Macroeconomics 0303003, EconWPA.
  9. Campos, Nauro F & Coricelli, Fabrizio, 2002. "Growth in Transition: What we Know, What we Don't and What we Should," CEPR Discussion Papers 3246, C.E.P.R. Discussion Papers.
  10. Wyplosz, Charles, 1992. "After the Honeymoon: On the Economics and the Politics of Economic Transformation," CEPR Discussion Papers 734, C.E.P.R. Discussion Papers.
  11. Philippe Aghion & Olivier Jean Blanchard, 1994. "On the Speed of Transition Central Europe," NBER Working Papers 4736, National Bureau of Economic Research, Inc.
  12. Dani Rodrik, 1992. "The Rush to Free Trade in the Developing World: Why So Late? Why Now? Will it Last?," NBER Working Papers 3947, National Bureau of Economic Research, Inc.
  13. Krueger, Gary & Ciolko, Marek, 1998. "A Note on Initial Conditions and Liberalization during Transition," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 718-734, December.
  14. Ratna Sahay & Jeromin Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies," IMF Working Papers 99/73, International Monetary Fund.
  15. John E. Jackson & Jacek Klich & Krystyna Poznanska, 2001. "Economic Transition and Elections in Poland," William Davidson Institute Working Papers Series 391, William Davidson Institute at the University of Michigan.
  16. Ratna Sahay & Stanley Fischer & Carlos A. Végh Gramont, 1998. "From Transition to Market," IMF Working Papers 98/52, International Monetary Fund.
  17. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  18. Fernandez, Raquel & Rodrik, Dani, 1991. "Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty," American Economic Review, American Economic Association, vol. 81(5), pages 1146-55, December.
  19. Stanley Fischer & Ratna Sahay & Carlos A. Vegh, 1996. "Stabilization and Growth in Transition Economies: The Early Experience," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 45-66, Spring.
  20. Brunetti, Aymo & Kisunko, Gregory & Weder, Beatrice, 1997. "Institutional obstacles to doing business : region-by-region results from a worldwide survey of the private sector," Policy Research Working Paper Series 1759, The World Bank.
  21. Dewatripont, M & Roland, G, 1992. "Economic Reform and Dynamic Political Constraints," Review of Economic Studies, Wiley Blackwell, vol. 59(4), pages 703-30, October.
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Cited by:
  1. Jan Babecky & Tomas Havranek, 2013. "Structural Reforms and Growth in Transition: A Meta-Analysis," Working Papers IES 2013/14, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2013.
  2. Elisabetta Falcetti & Tatiana Lysenko & Peter Sanfey, 2005. "Reforms and growth in transition: re-examining the evidence," Working Papers 90, European Bank for Reconstruction and Development, Office of the Chief Economist.
  3. Nauro F. Campos & Roman Horvath, 2009. "Reform Redux: Measurement, Determinants and Reversals," Working Papers 2009/6, Czech National Bank, Research Department.

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