Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142623
Authors: 
Raimbaev, Azim
Year of Publication: 
2011
Series/Report no.: 
EERI Research Paper Series 16/2011
Abstract: 
There is a consensus among scholars that institutions (i.e. norms and regulations) are country specific. The paper aims to contribute to the debate by examining the type of institutions which have been the most important for growth in transition countries. It employs a new set of the institutional variables published by the World Bank against the commonly used transition index of the European Bank for Reconstruction and Development. Also, the paper tests the validity of some arguments presented in the institutional literature. As a result, it appears that among the institutional variables government effectiveness has the most significant impact on economic development of the former planned economies. However, at this stage, the classical growth factors such as investment and export turn out to be more important for growth than institutions.
Subjects: 
Institutions
governance
transition economies
growth
JEL: 
O43
P21
P36
Document Type: 
Working Paper

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