In pursuit of its transition from a command to a market economy, Russia has witnessed enormous regional differences in economic growth rates. Moreover, the implementation of economic reforms has also differed markedly across regions. We analyze whether regional differences in reform policies can account for regional differences in growth rates, and conclude that to a considerable degree, they can. Most notably, we find that regional differences in price liberalization policies exhibit a positive direct correspondence with growth. We also find that regional differences in large-scale privatization exhibit a positive correspondence with the regional formation of new legal enterprises, which in turn exhibits a strong positive correspondence with growth.
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Length: pages Date of creation: 01 Oct 2001 Date of revision: Handle: RePEc:wdi:papers:2000-405
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Find related papers by JEL classification: O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity P3 - Economic Systems - - Socialist Institutions and Their Transitions R1 - Urban, Rural, and Regional Economics - - General Regional Economics
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Simon Johnson & John McMillan & Christopher Woodruff, 2002.
"Property Rights and Finance,"
American Economic Review,
American Economic Association, vol. 92(5), pages 1335-1356, December.
[Downloadable!] (restricted)
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Simon Johnson & John McMillan & Christopher Woodruff, 2002.
"Property Rights and Finance,"
NBER Working Papers
8852, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)