Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212515
Authors: 
Staehr, Karsten
Year of Publication: 
2003
Series/Report no.: 
BOFIT Discussion Papers No. 1/2003
Abstract: 
Growth regressions have provided important insights into the impact of economic reforms on growth in transition economies.Using principal components to decompose reform variables and construct reform clusters, we address unsettled issues such as the importance of sequencing and reform speed.The results indicate a broad-based reform policy is good for growth, but so is a policy of liberalisation and small-scale privatisation without structural reforms.Conversely, large-scale privatisation without adjoining reforms, market opening without supporting reforms and bank liberalisation without enterprise restructuring affect growth negatively.Swift reform policies allow transition countries to benefit from higher growth for a longer period of time.The speed of reforms otherwise appears to have only limited effects on short-term and medium-term growth.
Subjects: 
Economic reforms
growth
principal components
gradualism versus big-bang
JEL: 
P21
P30
C33
H11
Persistent Identifier of the first edition: 
ISBN: 
951-686-850-9
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.