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Geography, geopolitics, and policy in the performance of transition economies

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  • Jeffrey D. Sachs

Abstract

The economic performance of the transition economies as of 2015 is well explained by three variables: (1) years of membership in the EU; (2) physical distance from the heart of the EU economy, taken to be Dusseldorf; and (3) annual revenues from oil and gas production, reflecting natural resource deposits. These three factors account for around 86 percent of the variation in per capita income across the 28 transition economies, and reflect the interplay of domestic policy, geopolitics, geography and natural resources.

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  • Jeffrey D. Sachs, 2018. "Geography, geopolitics, and policy in the performance of transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 26(4), pages 841-849, October.
    • Handle: RePEc:bla:etrans:v:26:y:2018:i:4:p:841-849
    DOI: 10.1111/ecot.12163
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    References listed on IDEAS

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    1. Herbert Giersch, 1979. "Aspects of growth, structural change, and employment A schumpeterian perspective," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 115(4), pages 629-652, December.
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    1. Timur Natkhov & Leonid Polishchuk, 2019. "Quality of Institutions and the Allocation of Talent: Cross‐National Evidence," Kyklos, Wiley Blackwell, vol. 72(4), pages 527-569, November.
    2. Thomas Davoine, 2023. "The joint macroeconomic impacts of capital markets integration and fertility," Review of International Economics, Wiley Blackwell, vol. 31(2), pages 687-720, May.
    3. Javier Barbero & Ernesto Rodríguez-Crespo, 2022. "Technological, institutional, and geographical peripheries: regional development and risk of poverty in the European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(2), pages 311-332, October.
    4. Davoine, Thomas & Molnar, Matthias, 2020. "Cross-country fiscal policy spillovers and capital-skill complementarity in integrated capital markets," Economic Modelling, Elsevier, vol. 88(C), pages 132-150.
    5. Liu, Haiyun & Islam, Mollah Aminul & Khan, Muhammad Asif & Hossain, Md Ismail & Pervaiz, Khansa, 2020. "Does financial deepening attract foreign direct investment? Fresh evidence from panel threshold analysis," Research in International Business and Finance, Elsevier, vol. 53(C).

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