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Determinants of catching up or falling behind: interaction of formal and informal institutions

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  • Jan Winiecki

Abstract

The article looks from an institutional perspective at the process of catching up by poorer countries with the level of development already achieved by the richer ones. The author stresses that resources are of secondary importance, relative to the institutional framework conducive to or discouraging economic development. It is from such a perspective that the present writer approaches post-communist transition, noting the existence of leaders and laggards in the process. Differences in outcomes are ascribed, unsurprisingly, to differences in institution-building (both general and specific rules) and, even more importantly, to differences in what the author calls “civilisational fundamentals” of liberty, law and order, and trust. The main thesis is that the fundamentals in question are the heritage of pre-communist past. Therefore, it is the pre-communist heritage, the presence or absence of the fundamentals in question, which largely determine the transition's success or failure.

Suggested Citation

  • Jan Winiecki, 2004. "Determinants of catching up or falling behind: interaction of formal and informal institutions," Post-Communist Economies, Taylor & Francis Journals, vol. 16(2), pages 137-152.
  • Handle: RePEc:taf:pocoec:v:16:y:2004:i:2:p:137-152
    DOI: 10.1080/1463137042000223859
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    References listed on IDEAS

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    1. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2002. "The Regulation of Entry," The Quarterly Journal of Economics, Oxford University Press, vol. 117(1), pages 1-37.
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    Cited by:

    1. Nikolay Nenovsky & Gergana Mihaylova, 2007. "Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria for the Period 1990 – 2005," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 72-92.
    2. André van Stel & J. Cieslik Cieslik, 2014. "Trends in Business Ownership in Central and East European Transition Economies," Scales Research Reports H201202, EIM Business and Policy Research.
    3. Dimiter Ialnazov & Nikolay Nenovsky, 2010. "The evolution of post-communist countries: An interpretation from the perspective of cooperation," ICER Working Papers 03-2010, ICER - International Centre for Economic Research.
    4. Nikolay NENOVSKY & Kiril TOCHKOV & Camelia TURCU, 2011. "From Prosperity to Depression: Bulgaria and Romania (1996/97 ??? 2010)," William Davidson Institute Working Papers Series wp1018, William Davidson Institute at the University of Michigan.
    5. Aleksandra Skorupinska & Joan Torrent Sellens, 2014. "Drivers of manufacturing firm's productivity in Germany and Poland: evidence from survey data," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 7(1), pages 117-124, June.
    6. Petar Chobanov & Amine Lahiani & Nikolay Nenovsky, 2011. "Money Market Integration and Sovereign CDS Spreads Dynamics in the New EU States," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    7. Dimiter Ialnazov & Nikolay Nenovsky, 2011. "A Game Theory Interpretation of the Post-Communist Evolution," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(1), pages 41-56.
    8. Geoffrey M. Hodgson, 2006. "Instituciones, recesiones y recuperación en las economías en transición," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(15), pages 43-68, July-Dece.
    9. repec:spr:jknowl:v:8:y:2017:i:2:d:10.1007_s13132-016-0441-1 is not listed on IDEAS

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