Institutions Matter in Transition, But so do Policies
AbstractThis paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper’s main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that progress in achieving macroeconomic stabilization and implementing broad-based economic reforms remain the key determinants of growth in transition economies.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 00/70.
Date of creation: 01 Mar 2000
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