Articlegreen2007

Home Grown or Imported? Initial Conditions, External Anchors and the Determinants of Institutional Reform in the Transition Economies

Maria Laura Di Tommaso · Martin Raiser · Melvyn Weeks

90 citations0/0 files storedThe Economic Journal

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Post-Communist Economic and Political Transition Economic Theory and Institutions Corruption and Economic Development

Abstract

In this article we examine the determinants of institutional change using a panel dataset comprising 25 transition economies. A defining characteristic of our approach is that we treat institutional change as a multidimensional unobserved variable, accounting for the fact that each of our indicators represents a noisy signal. Our results suggest that institutional change is significantly path dependent. However, policy can to some extent break this dependence through economic and political liberalisation at the start of the transition and with the help of an external anchor such as EU accession.

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References

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Cited by

2008Estimating Basic Capabilities: A Structural Equation Model Applied to Bolivia 2011Politics and privatization in Central and Eastern Europe 2010The European Union's Relations with Ukraine and Azerbaijan 2010Institutions and economic performance: System GMM modelling of institutional effects in transition

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