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Structural Reform and Productivity Growth in Emerging Europe and Central Asia

Author

Listed:
  • Georgiev, Yordan

    (Bank of England)

  • Nagy-Mohacsi, Piroska

    (Institute of Global Affairs, London School of Economics)

  • Plekhanov, Alexander

    (European Bank for Reconstruction and Development)

Abstract

Since 1990, countries in emerging Europe and Central Asia have undergone comprehensive economic transformation. These reforms helped achieve an impressive degree of income convergence toward the levels of the advanced economies, although at the cost of rising inequality and lower life satisfaction. Over the last decade, both the speed of reforms and economic growth have slowed down markedly. To sustain convergence, greater emphasis needs to be put on structural reforms, facilitating innovation and boosting firm productivity while, at the same time, taking into account the distributional impact of reforms.

Suggested Citation

  • Georgiev, Yordan & Nagy-Mohacsi, Piroska & Plekhanov, Alexander, 2017. "Structural Reform and Productivity Growth in Emerging Europe and Central Asia," ADB Economics Working Paper Series 523, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0523
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    References listed on IDEAS

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    6. Asel Isakova & Alexander Plekhanov, 2011. "Region-specific Constraints to Doing Business: Evidence from Russia," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 66(2), pages 181-210, June.
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    9. Asel Isakova & Zsoka Koczan & Alexander Plekhanov, 2016. "How much do tariffs matter? Evidence from the customs union of Belarus, Kazakhstan and Russia," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 19(2), pages 166-184, April.
    10. Eggertsson, Gauti & Ferrero, Andrea & Raffo, Andrea, 2014. "Can structural reforms help Europe?," Journal of Monetary Economics, Elsevier, vol. 61(C), pages 2-22.
    11. Falcetti, Elisabetta & Lysenko, Tatiana & Sanfey, Peter, 2006. "Reforms and growth in transition: Re-examining the evidence," Journal of Comparative Economics, Elsevier, vol. 34(3), pages 421-445, September.
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    Cited by:

    1. Saša Petković & Jelica Rastoka & Dragana Radicic, 2023. "Impact of Innovation and Exports on Productivity: Are There Complementary Effects?," Sustainability, MDPI, vol. 15(9), pages 1-22, April.
    2. Nurzhan DEMEUOV & Ainur ISSAYEVA & Ardak YESDAULETOVA, 2024. "Investment Policy Of The Republic Of Kazakhstan: Main Directions And Development Trends," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 24(1), pages 19-36.
    3. Das, Gouranga G. & Ginting, Edimon & Horridge, Mark & Yamano, Takashi, 2023. "Growth Constraints and Structural Diversification for Kyrgyzstan Economy: Policy Analysis of Key Reforms and its Implications," GLO Discussion Paper Series 1250, Global Labor Organization (GLO).
    4. World Bank, "undated". "Europe and Central Asia Economic Update, Spring 2020," World Bank Publications - Reports 33476, The World Bank Group.
    5. Richard Pomfret, 2021. "Central Asian Economies: Thirty Years After Dissolution of the Soviet Union," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(4), pages 537-556, December.

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    More about this item

    Keywords

    economic growth; structural reform; transition;
    All these keywords.

    JEL classification:

    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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