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Market reforms and economic growth in post-communist economies: a panel data approach
| Content Provider | Semantic Scholar |
|---|---|
| Author | Chubrik, Alexander |
| Copyright Year | 2003 |
| Abstract | The paper analyses a relationship between market reforms and economic growth in post-communist economies. Components of the EBRD reform index (EBRD transition indicators) were used as measures of reform progress. Based on the estimations of panel data for 25 transition economies for 1989–2003 it is shown that progress in market reforms have a positive impact on GDP growth. The main contributors to economic growth are governance and enterprise restructuring, banking sector reform, and trade and foreign exchange liberalization. Three groups of countries were specified: advanced reformers, partial reformers, and non-reformers. Non-reformers appeared to grow faster than partial reformers, but as they have repressed, soviet-type regimes, reliability of these countries' official statistics is very low, and GDP is likely to be overestimated. Hence, one can conclude that the gap between non-reformers and advanced reformers is widening or at least persists, while the partial reformers could reduce this gap implementing comprehensive reforms. JEL Classification Numbers: C33, O52 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://pdc.ceu.hu/archive/00002188/01/ReformsandGrowth.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
