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Institutions Matter in Transition, But So Do Policies

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  • Oleh Havrylyshyn

    (International Monetary Fund.)

  • Ron van Rooden

    (International Monetary Fund.)

Abstract

This paper analyses the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper's main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that progress in achieving macroeconomic stabilisation and implementing broad-based economic reforms remain the key determinants of growth in transition economies. Comparative Economic Studies (2003) 45, 2–24. doi:10.1057/palgrave.ces.8100005

Suggested Citation

  • Oleh Havrylyshyn & Ron van Rooden, 2003. "Institutions Matter in Transition, But So Do Policies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 45(1), pages 2-24, March.
    • Handle: RePEc:pal:compes:v:45:y:2003:i:1:p:2-24
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