Economics, Institutions, History and Geography in the Transition Process

Charles Wyplosz

No 2005_8, ECE Discussion Papers Series from UNECE

Abstract: This paper provides a comparative analysis of macroeconomic trends in the transition economies over the 1992-2003 period. It also describes some differences between the transition economies and emerging markets more generally. Good governance and appropriate institutions are found to be essential ingredients for success. However, history and geography seem to have predetermined the economic successes and failures. Being close to the EU provided the advantage of future accession while having been part of the Soviet Union proved to be a severe handicap.

Keywords: Transition economy; European macroeconomics; Economic institutions; Economic growth (search for similar items in EconPapers)
JEL-codes: N9 O52 P27 P51 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2005-12
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Published in UNECE Discussion Paper Series, No. 2005_8

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