Economics, Institutions, History and Geography in the Transition Process
This paper provides a comparative analysis of macroeconomic trends in the transition economies over the 1992-2003 period. It also describes some differences between the transition economies and emerging markets more generally. Good governance and appropriate institutions are found to be essential ingredients for success. However, history and geography seem to have predetermined the economic successes and failures. Being close to the EU provided the advantage of future accession while having been part of the Soviet Union proved to be a severe handicap.
|Date of creation:||Dec 2005|
|Date of revision:|
|Publication status:||Published in UNECE Discussion Paper Series, No. 2005_8|
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- Xavier X. Sala-i-Martin, 1997.
"I Just Ran Four Million Regressions,"
NBER Working Papers
6252, National Bureau of Economic Research, Inc.
- Sachs, J-D & Warner, A-M, 1995.
"Natural Resource Abundance and Economic Growth,"
517a, Harvard - Institute for International Development.
- Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
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