Back to the Future: the Growth Prospects of Transition Economies Reconsidered

Nauro Campos

No 2654, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: How many years will the average transition economy need to reach the income level of the average OECD country? The favoured methodology in use to answer such questions is referred to as the BLR approach, because it uses specifications from Barro, and Levine and Renelt. The literature has so far refrained from identifying and testing the underlying assumptions of the BLR approach. This paper attempts to fill this gap. Our results contrast sharply with the assumptions and findings from the BLR approach, questioning its might and challenging our understanding of the transition process in its key dimension.

Keywords: Economic growth; Transition economies; Growth Prospects (search for similar items in EconPapers)
JEL-codes: E23 O40 P20 P52 (search for similar items in EconPapers)
Date: 2000-12
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Citations: View citations in EconPapers (7)

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Working Paper: Back to the Future: The Growth Prospects of Transition Economies Reconsidered (1999)
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