The Relative Importance of Institutions in Economic Outcomes in Transition

Christopher Hartwell

Chapter 5 in Institutional Barriers in the Transition to Market, 2013, pp 114-156 from Palgrave Macmillan

Abstract: Abstract While the last chapter may have proved that, on the whole, institutions were not neglected in the transition to a free-market economy, the point itself may be moot if institutions played only a relatively small role in determining economic outcomes. As the literature review in Chapter 2 touched upon, and this chapter will show, a major point of contention in the transition economics field has been over this very point, on the relative contribution of institutions to growth. This chapter intends to structure a model to examine the relative role of institutions versus two other important factors: policies, including macroeconomic stabilization and packages of policies used to effect the transition, and personalities, or the people involved in the transition in each country.

Keywords: Economic Outcome; Household Consumption; Former Soviet Union; Institutional Barrier; Policy Index (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-1-137-32371-2_5

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DOI: 10.1057/9781137323712_5

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