Second Prize Jan Fidrmuc
نویسنده
چکیده
The post-communist countries of Eastern Europe and the former Soviet Union introduced, at least initially, political and economic reforms simultaneously. This paper explores the consequences of simultaneous implementation of economic and political liberalisation for economic growth. It is found that democracy indeed had a negative marginal effect on growth during early phases of transition (1990-93). Nevertheless, democracy reinforces progress in economic liberalisation, which in turn has a strongly positive effect on growth. When accounting for this indirect effect, the overall effect of democracy on growth turns out overwhelmingly positive.
منابع مشابه
THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Formation of social capital in Central and Eastern Europe: Understanding the gap vis-à-vis developed countries
متن کامل
Interim Report IR-00-007/February Macroeconomic Developments in Slovakia and the EU Accession Process
Interim Reports on work of the International Institute for Applied Systems Analysis receive only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute, its National Member Organizations, or other organizations supporting the work.
متن کاملInterim Report IR-00-008/February Macroeconomic Developments in the Czech Republic and the EU Accession Process
Interim Reports on work of the International Institute for Applied Systems Analysis receive only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute, its National Member Organizations, or other organizations supporting the work.
متن کاملEconomic reform, democracy and growth during post-communist transition
The post-communist transition was associated with two specific phenomena. First, political liberalization was initiated simultaneously with economic reforms. Second, instead of a short Jshaped adjustment, most transition countries experienced deep and protracted recessions. Some analysts suggest that the early introduction of democracy was in fact harmful for economic growth. Similarly, propone...
متن کامل