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Who is Still Haunted by the Specter of Communism? Explaining Relative Output Contractions Under Transition

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Author Info
Julian Berengaut
Katrin Elborgh-Woytek
Abstract

The paper analyzes the initial output decline in transition economies by estimating a crosssection model stressing two major factors-conflicts and the legacies of the Soviet period. We link the Soviet legacies in place at the outset of the transition to the subsequent path for the development of market-related institutions. Institutional development (as proxied by measures of corruption) is used as an intermediate variable. An instrumental variable approach is followed to derive estimates that are not biased by the possible endogeneity of corruption with respect to output developments. Assuming that the extent of Soviet legacies was positively correlated with the length of the communist rule allows us to use the years under the Soviet regime as an instrument.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 05/68.

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Length: 22 pages
Date of creation: 12 Apr 2005
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Handle: RePEc:imf:imfwpa:05/68

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Keywords: Production ; Former Soviet Union ; Transition economies ; Corruption ; Economic models ;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 00/30, International Monetary Fund.
  2. Simeon Djankov & Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 2003. "The New Comparative Economics," NBER Working Papers 9608, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. 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:
  4. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Falcetti, Elisabetta & Raiser, Martin & Sanfey, Peter, 2002. "Defying the Odds: Initial Conditions, Reforms, and Growth in the First Decade of Transition," Journal of Comparative Economics, Elsevier, vol. 30(2), pages 229-250, June. [Downloadable!] (restricted)
  6. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December. [Downloadable!] (restricted)
    Other versions:
  7. 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.
  8. Julian Berengaut & Marta de Castello Branco & Oli Havrylyshyn & Valerie Mercer-Blackman & Ron van Rooden & Thomas A. Wolf, 2000. "Growth Experience in Transition Countries, 90-98," IMF Occasional Papers 184, International Monetary Fund.
  9. Rapaczynski, Andrzej, 1996. "The Roles of the State and the Market in Establishing Property Rights," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 87-103, Spring. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Andrew Tiffin, 2006. "Ukraine: The Cost of Weak Institutions," IMF Working Papers 06/167, International Monetary Fund. [Downloadable!]
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