Institutions Matter in Transition, But so Do Policies
28 Pages Posted: 14 Feb 2006
Date Written: March 2000
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: Transition, growth, stabilization, reforms, institutions
JEL Classification: E31, H30, K40, O40
Suggested Citation: Suggested Citation