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INSTITUTIONAL EFFECTS ON ECONOMIC PERFORMANCE IN TRANSITION: A DYNAMIC PANEL ANALYSIS

EFENDIC, Adnan and PUGH, Geoff (2015) INSTITUTIONAL EFFECTS ON ECONOMIC PERFORMANCE IN TRANSITION: A DYNAMIC PANEL ANALYSIS. Acta Oeconomica, 65 (4). pp. 503-523. ISSN 0001-6373

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Abstract or description

This article uses dynamic panel analysis to investigate the relationship between institutional improvement and economic performance in transition countries. The contribution of this paper is two-fold. First, we find that per capita GDP is determined by the entire history of institutional reform under transition and that, conditional on this history, per capita GDP adjusts to recent institutional changes. Moreover, we find that the time-horizon over which we measure institutional change matters, with five-year changes showing the clearest effects on current levels of per capita GDP. Secondly, we address the pronounced methodological heterogeneity of this literature. To compensate for incomplete theoretical guidance from the institutional literature, we draw upon an institutional meta-regression analysis to inform our model specification.

Item Type: Article
Faculty: School of Business, Leadership and Economics > Accounting, Finance and Economics
Depositing User: Geoff PUGH
Date Deposited: 31 Jan 2017 10:26
Last Modified: 31 Jan 2017 10:26
URI: http://eprints.staffs.ac.uk/id/eprint/2974

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