Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26199
Authors: 
Gylfason, Thorvaldur
Hochreiter, Eduard
Year of Publication: 
2007
Series/Report no.: 
CESifo working paper 2155
Abstract: 
We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to brute accumulation of capital (extensive growth). We infer that advances in education at all levels, good governance, and institutional reforms have played a more significant role in raising economic output and efficiency in Estonia than in Georgia which remains marred by various problems related to weak governance in the public and private spheres.
Subjects: 
economic growth
governance
transition economies
JEL: 
O16
Document Type: 
Working Paper

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