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Long-Term Growth and Welfare in Transitional Economies: The Impact of Demographic, Investment and Social Policy Changes

Author

Listed:
  • Giovanni Andrea Cornia
  • Juha Honkkila
  • Renato Paniccià
  • Vladimir Popov

Abstract

This paper analyses the long-term growth and welfare impact of the transition to the market economy in the countries of Eastern Europe. We define welfare as the average real net wage after payments of social security contributions to fund a paygo-type pension system, and of taxes to service the interests on the accumulated public debt.We examine four sets of factors that will influence growth and the welfare of wage earners up to the year 2030.

Suggested Citation

  • Giovanni Andrea Cornia & Juha Honkkila & Renato Paniccià & Vladimir Popov, 1996. "Long-Term Growth and Welfare in Transitional Economies: The Impact of Demographic, Investment and Social Policy Changes," WIDER Working Paper Series wp-1996-122, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-1996-122
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    File URL: https://www.wider.unu.edu/sites/default/files/WP122.pdf
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    References listed on IDEAS

    as
    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "Patterns of Transition from Plan to Market," The World Bank Economic Review, World Bank, vol. 10(3), pages 397-424, September.
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    3. Jacek Rostowski, 1995. "Investment in Post-communist Economies. Real Facts and Keynesian Myths," CASE Network Studies and Analyses 0063, CASE-Center for Social and Economic Research.
    4. Finn E. Kydland & Edward C. Prescott, 1990. "Business cycles: real facts and a monetary myth," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 14(Spr), pages 3-18.
    5. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
    6. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(4), pages 1127-1170.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Popov, Vladimir, 2009. "Mortality Crisis in Russia Revisited: Evidence from Cross-Regional Comparison," MPRA Paper 21311, University Library of Munich, Germany, revised Dec 2009.
    2. Juha Honkkila, 1997. "Privatization, Asset Distribution and Equity in Transitional Economies," WIDER Working Paper Series wp-1997-125, World Institute for Development Economic Research (UNU-WIDER).

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    More about this item

    Keywords

    Public debt; Economic development; Investments; Population; Public welfare;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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