Abstract
This paper investigates the importance of institution building for economic growth in transition economies of Eastern Europe and CIS-States. Using recent data, it shows that even in a Guardian State, institutions like property rights protection, administration efficiency, and general rule of law matter. They appear to be even more crucial for economic take-off than standard economic factors like for example macroeconomic policy. Moreover, this paper finds that there are important spillover effects in institution building, and that countries which get one specific institution right, have also better chances to succeed in making other specific institutions work properly.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
