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Economics, Institutions, History and Geography in the Transition Process


  • Charles Wyplosz

    () (The Graduate Institute of International Economics and CEPR)


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.

Suggested Citation

  • Charles Wyplosz, 2005. "Economics, Institutions, History and Geography in the Transition Process," ECE Discussion Papers Series 2005_8, UNECE.
  • Handle: RePEc:ece:dispap:2005_8

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    File Function: First version, 2005
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    References listed on IDEAS

    1. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    2. 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.
    3. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
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    More about this item


    Transition economy; European macroeconomics; Economic institutions; Economic growth;

    JEL classification:

    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • N9 - Economic History - - Regional and Urban History


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