Institutional effects on economic performance in post-socialist transition: A dynamic panel analysis

Adnan Efendic and Geoff Pugh ()
Additional contact information
Geoff Pugh: Centre for Applied Business Research, Faculty of Business , Education and Law, Staffordshire University, United Kingdom

Acta Oeconomica, 2015, vol. 65, issue 4, 503-523

Abstract: This article uses dynamic panel analysis to investigate the relationship between institutional improvement and economic performance in 29 transition countries. The contribution of this paper is two-fold. First, we find that per capita GDP is determined by the entire history of institutional reform under transition and that, conditional on this history, per capita GDP adjusts to recent institutional changes. Moreover, we find that the time-horizon over which we measure institutional change matters, with five-year changes showing the clearest effects on current levels of per capita GDP. Secondly, we address the pronounced methodological heterogeneity of this literature. To compensate for incomplete theoretical guidance from the institutional literature, we draw upon an institutional meta-regression analysis to inform our model specification. Our analysis covers the period 1992–2007.

Keywords: institutions; economic performance; transition countries; dynamic panel analysis; extreme bounds analysis (search for similar items in EconPapers)
JEL-codes: E11 P30 P39 (search for similar items in EconPapers)
Date: 2015
Note: The authors acknowledge a particular debt to Nick Adnett. We also thank the two anonymous referees for additional improvements. Any shortcomings remaining are the responsibility of the authors.
References: Add references at CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://www.akademiai.com/doi/pdf/10.1556/032.65.2015.4.1 (application/pdf)
subscription

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: https://EconPapers.repec.org/RePEc:aka:aoecon:v:65:y:2015:i:4:p:503-523

Ordering information: This journal article can be ordered from
Akadémiai Kiadó Zrt., P. O. Box 245, H-1519 Budapest, Hungary
https://akjournals.com/

Access Statistics for this article

Acta Oeconomica is currently edited by Mihályi, Péter

More articles in Acta Oeconomica from Akadémiai Kiadó, Hungary
Bibliographic data for series maintained by Kriston, Orsolya ().