Download this Paper Open PDF in Browser

The Two-Decade Process of Institutional Adjustment in the Transition Economies of the Former Soviet Union: Overachievers, Mediocre Performers, and Underdogs

12 Pages Posted: 26 Sep 2011  

Eldar Madumarov

Kazakhstan Institute of Management, Economics and Strategic Research

Date Written: August 25, 2010

Abstract

Since the onset of the transformation process, there has been divergence in place as far as the speed and progress of institutional changes of the economies of the Former Soviet Union are concerned. Based on the thorough analysis of the EBRD data on attainments in institutional adjustment in diverse spheres of the transition economies of Europe and Central Asia (ECA), it is possible to classify them into the following three groups: 1) overachievers, 2) mediocre performers, and 3) underdogs. Such a diverse performance in institutional changes of the countries in question is due to an array of various reasons. It is asserted that the countries’ future development paths will be determined by the thus far attained institutional enhancements.

Keywords: Institutions, Development and Growth, Transition Economies

JEL Classification: E02, 043, P2

Suggested Citation

Madumarov, Eldar, The Two-Decade Process of Institutional Adjustment in the Transition Economies of the Former Soviet Union: Overachievers, Mediocre Performers, and Underdogs (August 25, 2010). Available at SSRN: https://ssrn.com/abstract=1933367 or http://dx.doi.org/10.2139/ssrn.1933367

Eldar Madumarov (Contact Author)

Kazakhstan Institute of Management, Economics and Strategic Research ( email )

4 Abai Avenue
Almaty, 050010
Kazakhstan

Paper statistics

Downloads
29
Abstract Views
286