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Convergence at last? Evidence from Transition Countries

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Saso Polanec

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Abstract

In this paper, we test the neoclassical growth model and its main prediction of conditional convergence of productivity for a sample of transition countries over the period 1990-2002. We split the sample into three periods: 1990-1994, 1994-1998 and 1998-2002 and confirm the convergence hypothesis only for the last period of transition, while in the early transition, factors specific to the transition process dominated productivity growth. We confirm past findings of importance of the process of liberalization and initial conditions for explaining differences in productivity growth. In the period 1998-2002, transition specific factors play no negative role, while in the period 1994-1998 their role is substantially reduced. These results, however, should not yet be intepreted as a sign of a permenent return to convergence in transition countries as they could be caused by differences in transition cycle.

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Paper provided by LICOS - Centre for Institutions and Economic Performance, K.U.Leuven in its series LICOS Discussion Papers with number 14404.

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Length: 26 pages
Date of creation: 2004
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Handle: RePEc:lic:licosd:14404

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Related research
Keywords: convergence; neoclassical growth; regional growth;

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Find related papers by JEL classification:
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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    Other versions:
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Cited by:
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  1. Young-Sun Lee & Hyung-Gon Jeong, 2006. "The determinants of economic growth of transition economies: Economic reform versus initial conditions," International Economic Journal, Korean International Economic Association, vol. 20(2), pages 241-252, June. [Downloadable!] (restricted)
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