IDEAS home Printed from https://ideas.repec.org/p/tky/fseres/2004cf285.html
   My bibliography  Save this paper

Assessing Institutional Efficiency, Growth and Integration

Author

Listed:
  • Juan Pineiro Chousa

    (University of Santiago de Compostela)

  • Haider A. Khan

    (GSIS, University of Denver)

  • Davit Melikyan

    (Institute of Management and Economic Reforms)

  • Artur Tamazian

    (University of Santiago de Compostela)

Abstract

This paper presents a new empirical methodology for evaluation of the institutional system's development in transition economies and the impact it has on economic performance. We have developed and used a methodology of estimation of an operational indicator of institutional system dynamics to observe the "institutional reforms-economic growth" interdependence in transition economies. The empirical work reveals a certain dependence between institutional development and growth. An application of the approach to the problems of international economic integration of transition economies in the context of EU accession allows us to assess the role of democratization and the rule of law in particular.

Suggested Citation

  • Juan Pineiro Chousa & Haider A. Khan & Davit Melikyan & Artur Tamazian, 2004. "Assessing Institutional Efficiency, Growth and Integration," CIRJE F-Series CIRJE-F-285, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:fseres:2004cf285
    as

    Download full text from publisher

    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2004/2004cf285.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank.
    2. Dani Rodrik, 2006. "Institutions for High-Quality Growth: What They Are and How to Acquire Them," Chapters, in: Kartik Roy & Jörn Sideras (ed.), Institutions, Globalisation and Empowerment, chapter 2, Edward Elgar Publishing.
    3. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc.
    4. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2005. "Does financial liberalization spur growth?," Journal of Financial Economics, Elsevier, vol. 77(1), pages 3-55, July.
    5. Haider A. Khan, 2004. "Interpreting East Asian Growth and Innovation," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-50353-3.
    6. Friedrich Schneider, 2000. "Illegal Activities, but Still Value Added Ones (?): Size, Causes, and Measurement of the Shadow Economies all over the World," CESifo Working Paper Series 305, CESifo.
    7. Daron Acemoglu & Simon Johnson & James Robinson, 2005. "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth," American Economic Review, American Economic Association, vol. 95(3), pages 546-579, June.
    8. Lizal, Lubomir & Kocenda, Evzen, 2001. "State of corruption in transition: case of the Czech Republic," Emerging Markets Review, Elsevier, vol. 2(2), pages 138-160, June.
    9. Stanley L. Engerman & Kenneth L. Sokoloff, 1994. "Factor Endowments: Institutions, and Differential Paths of Growth Among New World Economies: A View from Economic Historians of the United States," NBER Historical Working Papers 0066, National Bureau of Economic Research, Inc.
    10. A. Ulyukaev, 1997. "Democracy, Liberalism and Economic Growth," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 11.
    11. Kenneth L. Sokoloff & Stanley L. Engerman, 2000. "Institutions, Factor Endowments, and Paths of Development in the New World," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 217-232, Summer.
    12. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1231-1294.
    13. Cornia, Giovanni Andrea & Popov, Vladimir (ed.), 2001. "Transition and Institutions: The Experience of Gradual and Late Reformers," OUP Catalogue, Oxford University Press, number 9780199242184.
    14. Dalia Marin & Daniel Kaufmann & Bogdan Gorochowskij, 2000. "Barter in Transition Economies: Competing Explanations Confront Ukranian Data," William Davidson Institute Working Papers Series 287, William Davidson Institute at the University of Michigan.
    15. Mr. Stanley Fischer & Ms. Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 2000/030, International Monetary Fund.
    16. Haider A. Khan, 1997. "Technology, Energy and Development," Books, Edward Elgar Publishing, number 1238.
    17. Daron Acemoglu & Simon Johnson, 2005. "Unbundling Institutions," Journal of Political Economy, University of Chicago Press, vol. 113(5), pages 949-995, October.
    18. Johnson, Simon & Kaufmann, Daniel & Zoido-Lobaton, Pablo, 1998. "Regulatory Discretion and the Unofficial Economy," American Economic Review, American Economic Association, vol. 88(2), pages 387-392, May.
    19. Khan, Haider A. & Thorbecke, Erik, 1989. "Macroeconomic effects of technology choice: Multiplier and structural path analysis within a SAM framework," Journal of Policy Modeling, Elsevier, vol. 11(1), pages 131-156.
    20. Haider A. Khan, 1998. "Technology, Development and Democracy," Books, Edward Elgar Publishing, number 1247.
    21. Bruner, Robert F. & Conroy, Robert M. & Estrada, Javier & Kritzman, Mark & Li, Wei, 2002. "Introduction to 'Valuation in Emerging Markets'," Emerging Markets Review, Elsevier, vol. 3(4), pages 310-324, December.
    22. Simon Johnson & John McMillan & Christopher Woodruff, 2000. "Entrepreneurs and the Ordering of Institutional Reform: Poland, Slovakia, Romania, Russia and Ukraine Compared," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(1), pages 1-36, March.
    23. V. Tambovtsev, 1998. "Institutional Dynamics in the Transition Economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 5.
    24. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
    25. V. Popov, 1998. "Strong Institutions Are More Important than the Speed of Reforms," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 8.
    26. Haider A. Khan, 2003. "Corporate Governance:The Limits of the Principal- Agent Approach in Light of the Family-Based Corporate Governance System in Asia," CIRJE F-Series CIRJE-F-230, CIRJE, Faculty of Economics, University of Tokyo.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Iwasaki, Ichiro & Kumo, Kazuhiro, 2016. "Decline and Growth in Transition Economies: A Meta-Analysis," CEI Working Paper Series 2016-9, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    2. Juan Pineiro Chousa & Haider Ali Khan & Davit N. Melikyan & Artur Tamazian, 2005. "Institutional and Financial Determinants of Development: New Evidence from Advanced and Emerging Markets," CIRJE F-Series CIRJE-F-326, CIRJE, Faculty of Economics, University of Tokyo.
    3. Krishna Chaitanya Vadlamannati & Artur Tamazian, 2008. "Impact Of Institutional Quality On Human Rights Abuses In Transition Economies," William Davidson Institute Working Papers Series wp928, William Davidson Institute at the University of Michigan.
    4. Vonnegut, Andrew, 2009. "Institutions and initial conditions in transition: reconciling neo-institutional and neo-classical conceptions," MPRA Paper 24563, University Library of Munich, Germany, revised 2010.
    5. Tamazian, Artur & Bhaskara Rao, B., 2010. "Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional economies," Energy Economics, Elsevier, vol. 32(1), pages 137-145, January.
    6. Juan Pineiro Chousa & Haider A. Khan & Davit N. Melikyan & Artur Tamazian, 2006. "Democracy, Finance and Development," CARF F-Series CARF-F-088, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    7. Juan Pineiro Chousa & Haider Ali Khan & Davit N. Melikyan & Artur Tamazian, 2005. "Institutional and Financial Determinants of Development: New Evidence from Advanced and Emerging Markets," CARF F-Series CARF-F-027, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    8. Tamilina, Larysa & Baklanova, Olena, 2012. "Способы формирования контрактных институтов как факторы экономического ростa: сравнительный анализ [Means of economic institutional formation as determinants of economic growth: a comparative analy," MPRA Paper 50171, University Library of Munich, Germany.
    9. Jana Votápková & Milan Žák, 2013. "Institutional Efficiency of Selected EU & OECD Countries Using Dea-Like Approach," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(2), pages 206-223.
    10. Efendic, Adnan & Pugh, Geoff & Adnett, Nick, 2011. "Institutions and economic performance: A meta-regression analysis," European Journal of Political Economy, Elsevier, vol. 27(3), pages 586-599, September.
    11. Artur Tamazian & Davit N. Melikyan, 2010. "An Empirical Assessment of Economic and Political Challenges of European Union Accession," Journal of Common Market Studies, Wiley Blackwell, vol. 48(5), pages 1391-1408, November.
    12. Staehr, Karsten & Tamazian, Artur & Vadlamannati, Krishna Chaitanya, 2009. "Political Determinants of Economic Reforms in the Post-Communist Transition Countries," MPRA Paper 15960, University Library of Munich, Germany.
    13. Brahim Gaies & Stéphane Goutte & Khaled Guesmi, 2019. "Does Financial Globalization Still Spur Growth In Emerging And Developing Countries? Considering Exchange Rate Volatility'S Effects," Working Papers hal-01968082, HAL.
    14. Ahmed Imran Hunjra & Tahar Tayachi & Muhammad Irfan Chani & Peter Verhoeven & Asad Mehmood, 2020. "The Moderating Effect of Institutional Quality on the Financial Development and Environmental Quality Nexus," Sustainability, MDPI, vol. 12(9), pages 1-13, May.
    15. Olena Baklanova & Mariana Petrova & Viktor Koval, 2020. "Institutional Transmission in Economic Development," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 68-91.
    16. Siudek, Tomasz & Zawojska, Aldona, 2014. "Quality of national governance and rural development: The case of the European Union countries," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182793, European Association of Agricultural Economists.
    17. Tamilina, Larysa & Baklanova, Olena, 2012. "Способы формирования контрактных институтов: эволюция versus революция [Means of institutional formation: evolution versus revolution]," MPRA Paper 50172, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fidrmuc, Jan, 2003. "Economic reform, democracy and growth during post-communist transition," European Journal of Political Economy, Elsevier, vol. 19(3), pages 583-604, September.
    2. Thorsten Beck & Luc Laeven, 2006. "Institution building and growth in transition economies," Journal of Economic Growth, Springer, vol. 11(2), pages 157-186, June.
    3. Krishna Chaitanya Vadlamannati & Artur Tamazian, 2008. "Impact Of Institutional Quality On Human Rights Abuses In Transition Economies," William Davidson Institute Working Papers Series wp928, William Davidson Institute at the University of Michigan.
    4. Gylfason, Thorvaldur & Hochreiter, Eduard, 2009. "Growing apart? A tale of two republics: Estonia and Georgia," European Journal of Political Economy, Elsevier, vol. 25(3), pages 355-370, September.
    5. Abdoul’ Mijiyawa, 2013. "Determinants of property rights institutions: survey of literature and new evidence," Economics of Governance, Springer, vol. 14(2), pages 127-183, May.
    6. Fidrmuc, Jan & Tichit, Ariane, 2009. "Mind the break! Accounting for changing patterns of growth during transition," Economic Systems, Elsevier, vol. 33(2), pages 138-154, June.
    7. Sharun W. Mukand & Dani Rodrik, 2005. "In Search of the Holy Grail: Policy Convergence, Experimentation, and Economic Performance," American Economic Review, American Economic Association, vol. 95(1), pages 374-383, March.
    8. Beck, T.H.L., 2010. "Legal Institutions and Economic Development," Other publications TiSEM 8aa07b48-ce55-4cf6-8754-7, Tilburg University, School of Economics and Management.
    9. Bhattacharyya, Sambit, 2012. "Trade liberalization and institutional development," Journal of Policy Modeling, Elsevier, vol. 34(2), pages 253-269.
    10. Lubna Hasan, 2007. "Myths and Realities of Long-run Development: A Look at Deeper Determinants," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(1), pages 19-44.
    11. Christa N. Brunnschweiler, 2009. "Oil and Growth in Transition Countries," OxCarre Working Papers 029, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    12. Marta Spreafico, 2013. "Institutions, the resource curse and the transition economies: further evidence," DISCE - Quaderni del Dipartimento di Politica Economica ispe0064, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    13. Sukiassyan, Grigor, 2007. "Inequality and growth: What does the transition economy data say?," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 35-56, March.
    14. Karsten Staehr, 2005. "Reforms and Economic Growth in Transition Economies: Complementarity, Sequencing and Speed," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 2(2), pages 177-202, December.
    15. Sambit Bhattacharyya, 2011. "Growth Miracles and Growth Debacles," Books, Edward Elgar Publishing, number 13609.
    16. Neil Foster-McGregor & Robert Stehrer, 2005. "Modelling GDP in CEECs Using Smooth Transitions," wiiw Working Papers 36, The Vienna Institute for International Economic Studies, wiiw.
    17. Olsson, Ola, 2007. "On the Institutional Legacy of Mercantilist and Imperialist Colonialism," Working Papers in Economics 247, University of Gothenburg, Department of Economics.
    18. Siddiqui, Danish Ahmed & Ahmed, Qazi Masood, 2013. "The effect of institutions on economic growth: A global analysis based on GMM dynamic panel estimation," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 18-33.
    19. Gyöngyösi, Győző & Juhász, Réka & Mihályi, Dávid, 2008. "Daron Acemoglu a Rajk László Szakkollégium 2007. évi Neumann János-díjasa [Daron Acemoglu the winner of the 2007 János Neumann Prize of the László Rajk Specialist College]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 660-664.
    20. Kosta Josifidis & Radmila Dragutinović Mitrović & Olgica Ivančev, 2012. "Heterogeneity of Growth in the West Balkans and Emerging Europe: A Dynamic Panel Data Model Approach," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(2), pages 157-183, May.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tky:fseres:2004cf285. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CIRJE administrative office (email available below). General contact details of provider: https://edirc.repec.org/data/ritokjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.