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The Relative Levels and the Character of Institutional Development in Transition Economies

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  • Peter Murrell

    ()
    (Department of Economics, University of Maryland)

Abstract

At present, there is no generally accepted accounting of the institutional strengths and weaknesses of the transition economies. The first goal of the paper is to fill this gap by assessing current levels of institutional development. The second is to examine which types of institutional mechanisms make relatively strong contributions. Extensive empirical evidence shows that institutional quality in transition countries is roughly as expected given per capita incomes. Institutions are improving continuously. Given prevailing assumptions that the institutional situation is dismal, the developments giving rise to this surprising finding must be investigated more fully. This investigation begins by cataloging the mechanisms that could have improved institutional indexes. Then, evidence is examined on the relative strengths of each of these mechanisms. Formal institutions have contributed more than informal ones. The largest contributions have come from formal institutions separate from the state administrative structure. Political institutions, legal systems, and independent governmental agencies have been important.

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Bibliographic Info

Paper provided by University of Maryland, Department of Economics in its series Electronic Working Papers with number 03-003.

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Length: 35 pages
Date of creation: Mar 2003
Date of revision:
Handle: RePEc:umd:umdeco:03-003

Contact details of provider:
Postal: Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742
Web page: http://www.econ.umd.edu/

Order Information:
Postal: Ms. Elizabeth Martinez, Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742
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Related research

Keywords: Institutions; transition; law; legal systems; administration; social capital;

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Cited by:
  1. Beck, T.H.L. & Laeven, L., 2006. "Institution building and growth in transition economies," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4295080, Tilburg University.
  2. Murrell, Peter, 2003. "Firms facing new institutions: transactional governance in Romania," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 695-714, December.

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