This paper analyses the long-term growth and welfare impact of the transition to the market economy in the countries of Eastern Europe. We define welfare as the average real net wage after payments of social security contributions to fund a paygo-type pension system, and of taxes to service the interests on the accumulated public debt.
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Paper provided by World Institute for Development Economics Research in its series Research Paper with number
122.
Length: 56 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:wodeec:122
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Find related papers by JEL classification: O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General D60 - Microeconomics - - Welfare Economics - - - General J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management