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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- Jorge Braga De Macedo & Joaquim Oliveira Martins, 2008.
"Growth, reform indicators and policy complementarities,"
The Economics of Transition,
The European Bank for Reconstruction and Development, vol. 16(2), pages 141-164, 04.
- Macedo, Jorge Braga de & Martins, Joaquim Oliveira, 2006. "Growth, Reform indicators and Policy complementarities," FEUNL Working Paper Series wp484, Universidade Nova de Lisboa, Faculdade de Economia.
- Jorge Braga de Macedo & Joaquim Oliveira Martins, 2006. "Growth, Reform Indicators and Policy Complementaries," NBER Working Papers 12544, National Bureau of Economic Research, Inc.
- Karsten Staehr, 2005.
"Reforms and Economic Growth in Transition Economies: Complementarity, Sequencing and Speed,"
European Journal of Comparative Economics,
Cattaneo University (LIUC), vol. 2(2), pages 177-202, December.
- Karsten Staehr, 2003. "Reforms and economic growth in transition economies: Complementarity, sequencing and speed," Macroeconomics 0303003, EconWPA.
- Staehr, Karsten, 2003. "Reforms and economic growth in transition economies : Complementarity, sequencing and speed," BOFIT Discussion Papers 1/2003, Bank of Finland, Institute for Economies in Transition.
- 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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