scholarly journals Transition and growth: What was taught and what happened

2009 ◽  
Vol 54 (183) ◽  
pp. 7-31 ◽  
Author(s):  
Bozidar Cerovic ◽  
Aleksandra Nojkovic
Keyword(s):  
Market Economy ◽  
Transition Economies ◽  
Initial Conditions ◽  
Growth Models ◽  
Transition Process ◽  
Transition Countries ◽  
Reform Process ◽  
Long Run ◽  
Catch Up

The paper demonstrates why the transition process is taking more time than predicted and why many countries are still far away from the projected goal: a developed market economy. Analyzing the causes and re-examining the endogenous character of the transition progress, the authors conclude that the majority of reforms were implemented at a pace conditional on the initial, pre-transition conditions. The results obtained show a significant impact on the economic and institutional heritage of a country, which lasts much longer than was predicted on the eve of the reform process: initial conditions strongly and significantly affect the speed of transition throughout the entire observed period (1989-2007). They also affect the performance of a country: in the first years the transition progress may affect growth in a positive way, but later it becomes insignificant. This can explain some growth peculiarities previously remarked when transition countries were analyzed by means of long-run growth models. Using Barro and Levine-Renelt models the authors show that despite somewhat better results for the second decade of transition many peculiar patterns remain, which could temporarily block poorer transition economies in their attempts to catch up and cause unnecessary losses since transition policies were not properly adjusted to the initial conditions.

scholarly journals Evaluating Transformation Process in Central Asian Turkic Republics in terms of Privatization and Economic Freedom on 25th Anniversary of the Transiti

2015 ◽  
Author(s):  
Volkan Yurdadoğ ◽  
Haşim Akça ◽  
İlter Ünlükaplan
Keyword(s):  
Literature Review ◽  
Market Economy ◽  
Transition Economies ◽  
Economic Freedom ◽  
Transition Process ◽  
Transformation Process ◽  
Reform Process ◽  
Strongly Correlated ◽  
25Th Anniversary ◽  
Central Asian

The phrase of “Transition economies”, covering various countries as well as Caucasus and Central Asian Turkic Republics, was found its place in the literature by the 1980’s and this transformation process from the centrally planned economy to market economy was analyzed with economic and fiscal dimension. Undoubtedly, the transition process of these countries wouldn’t be easy and exhibits differences, especially for the Central Asian Turkic Republics, as they were governed under the command economy over many years. Related studies is put forward the increasing importance and future predictions within this scope. Two of the most economical and fiscal prosperity indicators of the transition economies are reconstruction of government and privatization implementations. In this context, after literature review analyzing the privatization implementations and the level of economic freedom indexes related to reconstruction of government by many dimensions under seminal international databases are crucial for that countries. In this study, after the 25 years of transition of Caucasus and Central Asian Turkic Republics, in 2016, reconstruction of government and privatization implementations are examined both in fiscal and economically. Kazakhstan and Azerbaijan are not only the prosperous countries in this respect but also have outstanding mining and underground resources. We also reach that the reform process of transition and the prosperity of economic indicators have not been strongly correlated.

scholarly journals Horvátország európai integrációja a makroökonómiai mutatók tükrében

2011 ◽  
Vol 6 (1-2) ◽  
pp. 35-41
Author(s):  
Balázs Kotosz
Keyword(s):  
Fiscal Policy ◽  
Soviet Union ◽  
Transition Economies ◽  
Former Soviet Union ◽  
Economic Transition ◽  
Initial Conditions ◽  
Transition Process ◽  
Gdp Growth ◽  
State Participation ◽  
Growth Differences

The collapse of communist economies in Eastern Europe and former Soviet Union, as well as their subsequent transition towards market economies, was arguably one of the most far-reaching economic events of the 20lh century. Pain accom panied the economic transition process; all countries experienced a major fall in output after the start of reforms. The growth performance in transition economies was widely different by countries. The paper is looking for the reasons of the growth differences. Even if the initial conditions did not give the same possibilities to governments, early reforms has opened the way to market processes, which seems to be more efficient than state owned institutions in transition economies. In this context, the lower is the state participation, the highest is growth. Empirical analyses justify that GDP growth is higher in countries where state reallocation is decreasing and where tight fiscal policy has been kept.)

scholarly journals Two sides of economic openness: non-tariff barriers to trade and capital controls in transition countries, 1993–2000

2003 ◽  
Vol 36 (2) ◽  
pp. 231-243 ◽  
Author(s):  
T. Bodenstein ◽  
T. Plümper ◽  
G. Schneider
Keyword(s):  
Transition Economies ◽  
Capital Controls ◽  
Transition Process ◽  
Transition Countries ◽  
Economic Liberalization ◽  
The Political ◽  
Economic Openness ◽  
Data Set ◽  
Economic Relations ◽  
Two Sides

This article presents new measures of foreign economic openness in the transition countries that allow us to distinguish between non-tariff barriers to trade and capital controls. We argue that this distinction is important for the analysis of foreign economic relations in the postcommunist world. While most states lowered barriers to trade since 1993, they increased the number of capital controls, which had been low at the beginning of the transition process. The ELITE (Economic Liberalization in the Transition Economies) data set, which is based on the IMF statistics on exchange arrangements and exchange restrictions and encompasses 24 transition countries, further demonstrates important exceptions to this trend. The comparison of the ELITE indicators with alternative measurements of economic openness indicates the need to move towards more refined analyses of the political economy of the transition process.

The administrative monopoly in China’s economic transition

2004 ◽  
Vol 37 (2) ◽  
pp. 265-280 ◽  
Author(s):  
Yong Guo ◽  
Angang Hu
Keyword(s):  
Transition Economies ◽  
Economic Transition ◽  
Transition Process ◽  
Rent Seeking ◽  
Transition Countries ◽  
Gradual Transition ◽  
Administrative Monopoly ◽  
Full Account ◽  
Unique Type

Corruption in transition economies has become the very focus of many recent discussions on politics and economics. However, the existing research has not taken full account of the experience of the gradual transition countries, especially China, and the incentives for rent creation in the transition process. Based on existing studies in this field, this paper addresses a new category of corruption in transition economies. In the context of the rent seeking theory, the authors examine what they regard as a unique type of corruption in China—administrative monopoly (AM), and outline its essence, causes, forms, features, the scale of the rent created, and the dissipation of the rent.

scholarly journals THE TOURISM-LED GROWTH HYPOTHESIS IN TRANSITION ECONOMIES? EMPIRICAL EVIDENCE FROM A PANEL DATA ANALYSIS

2021 ◽  
Vol 38 (4) ◽  
pp. 1076-1082
Author(s):  
Le Thanh TUNG ◽  
Keyword(s):  
Developing Countries ◽  
Panel Data ◽  
Development Strategy ◽  
Transition Economies ◽  
Transition Countries ◽  
Policy Implications ◽  
Research Database ◽  
Fisher Test ◽  
Long Run ◽  
Growth Hypothesis

Tourism has been considered as a potential factor in development strategy in many developed and developing countries worldwide. Besides, tourism is really a key economic sector in some countries. This study aims to examine the tourism-led growth hypothesis for some transition countries, which includes seven high growth economies Bulgaria, Hungary, Poland, Romania, Russia, Ukraine and Vietnam. The research database is collected by an annual form in the period of 1995-2019. These economies are considered successful transitional cases in the global economy, however, the tourism-led growth hypothesis in these countries has been received only a little evidence from academics in recent years. The Johansen-Fisher test and the OLS estimation are applied in the quantitative process. There are some new findings from the empirical results. First, the Johansen-Fisher test confirms the existence of long-run cointegration relationships between tourism (denoted by the tourism revenue and the tourism arrivals) and economic growth in the panel data sample of countries. Second, the long-run coefficients of the tourism variables are positive and significant that concludes the tourism-led growth hypothesis in these transition countries. The contribution of the study is not only to fill the empirical research gap by the estimated results from a group of transition economies but also to confirms the tourism-led growth platform as an efficient development strategy for other developing countries. Furthermore, our study suggests some policy implications for policymakers to use tourism as a key development sector in these countries in the future.

Factors Influencing E-Commerce Growth

2011 ◽  
Vol 3 (4) ◽  
pp. 29-43
Author(s):  
Farhod P. Karimov
Keyword(s):  
Comparative Analysis ◽  
Central Asia ◽  
Market Economy ◽  
Transition Economies ◽  
Transition Countries ◽  
Combined Effect ◽  
Factors Influencing

This paper presents an inter-country comparative analysis of key inhibitors and enablers affecting the diffusion of e-commerce across transition economies of Central Asia. It reveals that the combined effect of dissimilar economic, political, and technical impediments is a major underlying motive for differing e-commerce adoption patterns across these transition countries. This paper contributes to a better understanding of the issues affecting e-commerce diffusion and their implications for successful e-commerce implementation in countries undergoing the difficult process of transition to a market economy.

Factors Influencing E-Commerce Growth

2013 ◽  
pp. 1-17
Author(s):  
Farhod P. Karimov
Keyword(s):  
Comparative Analysis ◽  
Central Asia ◽  
Market Economy ◽  
Transition Economies ◽  
Transition Countries ◽  
Combined Effect ◽  
Factors Influencing

This paper presents an inter-country comparative analysis of key inhibitors and enablers affecting the diffusion of e-commerce across transition economies of Central Asia. It reveals that the combined effect of dissimilar economic, political, and technical impediments is a major underlying motive for differing e-commerce adoption patterns across these transition countries. This paper contributes to a better understanding of the issues affecting e-commerce diffusion and their implications for successful e-commerce implementation in countries undergoing the difficult process of transition to a market economy.

scholarly journals Housing Privatization in Transition Countries: Institutional Features and Outcomes

2020 ◽  
Vol 20 (1) ◽  
pp. 51-71 ◽  
Author(s):  
Hana M. Broulíková ◽  
Josef Montag
Keyword(s):  
Transition Economies ◽  
Initial Conditions ◽  
Transition Countries ◽  
Housing Tenure ◽  
Micro Data ◽  
Housing Privatization ◽  
Institutional Features ◽  
Tenure Structure

AbstractWe provide an overview of housing privatization policies and outcomes in transition economies. Our primary aim is to collect and systematize key information concerning the institutional features of housing privatization in individual countries: we identify the initial conditions, the timeframe of housing privatization and its culmination, the extent of housing privatization, who decided about its terms and conditions, who was entitled to privatize the housing, and at what price. Furthermore, using micro-data covering all transition countries, we present new estimates of the extent of housing privatization, its dynamics during the second half of the 2000s, and the resulting housing tenure structure.

GROWTH AND CONVERGENCE THROUGH TECHNOLOGICAL INTERDEPENDENCE

2020 ◽  
pp. 1-37
Author(s):  
Wei Jin ◽  
Yixiao Zhou
Keyword(s):  
Initial Conditions ◽  
Structural Characteristics ◽  
Balanced Growth ◽  
Long Run ◽  
World Income ◽  
World Income Distribution ◽  
Catch Up ◽  
Per Capita ◽  
Cross Country ◽  
Country Specific

This paper presents a multi-country version of the Ramsey growth model with cross-country technological interdependence. The results rationalize several stylized facts about growth and convergence. First, individual countries tend to converge toward country-specific balanced growth paths rather than steady-state equilibria. Second, an economy that accounts for a smaller share of the world technology distribution harnesses the “advantages of backwardness” to catch up at a faster speed. Third, countries grow at different rates during the phase of transitional dynamics. However, technological interdependence creates a force toward cross-country convergence in the growth rate and stability of world income distribution in the long run. Finally, cross-country differences in structural characteristics and initial conditions lead to divergences in the level of income per capita.

Government failure in transition process

1999 ◽  
Vol 8 (4) ◽  
Author(s):  
Milan Žák
Keyword(s):  
Public Choice ◽  
Market Economy ◽  
Transition Economies ◽  
Institutional Economics ◽  
Choice Theory ◽  
Transition Process ◽  
Social Forces ◽  
Public Choice Theory ◽  
Government Failure ◽  
Special Regard

The paper deals with the problem of government failure in a market economy, with special regard to transition economies. It starts from a wider concept of social forces. It criticizes a narrowed view of transition, typical for transition scenarios, limited only to mainstream economics and not covering the latest contributions of public choice theory and institutional economics. The traditional view of government failure has been further widened with the concept of utilization of political capital.

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