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The political economy of reforms: Empirical evidence from post-communist transition in the 1990s

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Author Info
Kim, Byung-Yeon () (BOFIT)
Pirttilä, Jukka () (BOFIT)

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Abstract

Using a novel data set from post-communist countries in the 1990s, this paper examines linkages between political constraints, economic reforms and growth. A dynamic panel analysis suggests public support for reform is negatively associated with income inequality and unemployment. Both the ex post and ex ante political constraints of public support affect progress in economic reform, which in turn influences economic growth. The findings highlight that while economic reforms are needed to foster growth, they must be designed so that they do not undermine political support for reform.

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Publisher Info
Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number 4/2003.

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Length: 31 pages
Date of creation: 15 Apr 2003
Date of revision:
Handle: RePEc:hhs:bofitp:2003_004

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Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland
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Related research
Keywords: political constraints; economic reform; transition; growth; dynamic panel models;

Other versions of this item:

Find related papers by JEL classification:
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy

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  3. 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. [Downloadable!]
  4. Wyplosz, Charles, 1993. "After the honeymoon: On the economics and the politics of economic transformation," European Economic Review, Elsevier, vol. 37(2-3), pages 379-386, April. [Downloadable!] (restricted)
    Other versions:
  5. Fischer, Stanley & Sahay, Ratna & Vegh, Carlos A, 1996. "Stabilization and Growth in Transition Economies: The Early Experience," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 45-66, Spring. [Downloadable!] (restricted)
    Other versions:
  6. Nauro F. Campos & Fabrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," William Davidson Institute Working Papers Series 470, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  7. Oli Havrylyshyn & Ron van Rooden, 2000. "Institutions Matter in Transition, but so do Policies," IMF Working Papers 00/70, International Monetary Fund.
  8. Philippe Aghion & Olivier Jean Blanchard, 1994. "On the Speed of Transition Central Europe," NBER Working Papers 4736, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. 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. [Downloadable!] (restricted)
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  12. Fidrmuc, Jan, 2000. "Political support for reforms: Economics of voting in transition countries," European Economic Review, Elsevier, vol. 44(8), pages 1491-1513, August. [Downloadable!] (restricted)
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  13. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March. [Downloadable!] (restricted)
  14. Eduardo Borensztein & Ratna Sahay & Jeromin Zettelmeyer & Andrew Berg, 1999. "The Evolution of Output in Transition Economies - Explaining the Differences," IMF Working Papers 99/73, International Monetary Fund.
  15. 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. [Downloadable!] (restricted)
  16. Stanley Fischer & Ratna Sahay & Carlos A. Végh Gramont, 1998. "From Transition to Market - Evidence and Growth Prospects," IMF Working Papers 98/52, International Monetary Fund.
  17. Jan Fidrmuc, 2001. "Economic Reform, Democracy and Growth During Post-Communist Transition," William Davidson Institute Working Papers Series 372, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  18. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank. [Downloadable!]
  19. Dewatripont, Mathias & Roland, Gerard, 1995. "The Design of Reform Packages under Uncertainty," American Economic Review, American Economic Association, vol. 85(5), pages 1207-23, December. [Downloadable!] (restricted)
    Other versions:
  20. Aghion, P. & Blanchard, O.J., 1993. "On the Speed of Transition in Central Europe," Working papers 93-8, Massachusetts Institute of Technology (MIT), Department of Economics.
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