Institutions Matter in Transition, But so do Policies

International Monetary Fund

No 2000/070, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper’s main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that progress in achieving macroeconomic stabilization and implementing broad-based economic reforms remain the key determinants of growth in transition economies.

Keywords: WP; transition country; liberalization policy; country rating; growth equation; orders country; Transition; growth; stabilization; reforms; institutions; country competitiveness; growth theory; market-enhancing institution; a number of governance indicator; CIS country; Legal support in revenue administration; Structural reforms; Corruption; Housing; Central and Eastern Europe; Baltics; Eastern Europe (search for similar items in EconPapers)
Pages: 26
Date: 2000-03-01
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Citations: View citations in EconPapers (29)

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