Institutional Reform in Transition Economies: How Far Have they Come

August 1, 2001

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Format: Chicago

Beatrice Weder. Institutional Reform in Transition Economies: How Far Have they Come, (USA: International Monetary Fund, 2001) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper examines how institutional conditions in transition economies compare with those in the rest of the world using various indicators of governance. The focus is on the countries in Central and Eastern Europe and the former Soviet Union but, when possible, transition countries, in Asia and Africa are also considered. The main findings are that transition economies, as a group, are no longer distinguishable from other economies, but at the same time, there are large differences in institutional performance within the group of transition economies. A formal cluster analysis is conducted in order to map transition economies into homogeneous groupings of countries. The results of this analysis highlight that transition economies are found at all clusters (from best to worst institutional performers) and also that a group of five countries, all of which are EU accession countries, appear to have “graduated”: when taking into account their level of income, their institutional conditions are no longer distinguishable from those in the most advanced industrialized countries.

Subject: National accounts, Personal income

Keywords: Africa, Eastern Europe, Economy, EU accession countries, Institutions, Ols estimate, Personal income, Transition, Transition country, Transition dummy, Transition economies, Transition economies of the FSU, Transition economy, WP

Publication Details

Pages:

26
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2001/114
Stock No:

WPIEA1142001
ISBN:

9781451853797
ISSN:

1018-5941

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