The case of transition economies: what institutions matter for growth?
There is a consensus among scholars that institutions (i.e. norms and regulations) are country specific. The article aims to contribute to the debate by examining what types of institutions have been most important for growth in transition countries. It employs a new set of institutional variables of the World Bank against the commonly used transition index of the European Bank for Reconstruction and Development. It appears that among the institutional variables government effectiveness has the most significant impact on growth in former planned economies. At the same time, classical growth factors seem to be more important for growth than institutions.
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Volume (Year): 54 (2011)
Issue (Month): 2 ()
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