Home Grown or Imported? Initial Conditions, External Anchors and the Determinants of Institutional Reform in the Transition Economies

Maria Laura Di Tommaso (), Martin Raiser and Melvyn Weeks ()

Economic Journal, 2007, vol. 117, issue 520, pages 858-881

Abstract: In this article we examine the determinants of institutional change using a panel dataset comprising 25 transition economies. A defining characteristic of our approach is that we treat institutional change as a multidimensional unobserved variable, accounting for the fact that each of our indicators represents a noisy signal. Our results suggest that institutional change is significantly path dependent. However, policy can to some extent break this dependence through economic and political liberalisation at the start of the transition and with the help of an external anchor such as EU accession. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.

Date: 2007
View citations in EconPapers

Downloads: (external link)
http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2007.02053.x link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:ecj:econjl:v:117:y:2007:i:520:p:858-881

Ordering information: This journal article can be ordered from
http://www.blackwell ... al.asp?ref=0013-0133

Access Statistics for this article

Economic Journal is edited by Antonio Ciccone, Leonardo Felli, Steve Machin, Andrew Scott, Steve Pischke and David Myatt

More articles in Economic Journal from Royal Economic Society
Contact information at EDIRC.
Series data maintained by Christopher F. Baum ().