Governance and economic growth in transition countries: a reading in the vision of the institutional theory

Our paper comes in the course of the New Institutional Economics which emphasises the supremacy of institutional reforms on the economic framework. Recently, measures and proxies notions of 'governance' and 'institutions' have stimulated empirical research in economics and political science. The objective of this paper seeks to go beyond the traditional theory of the growth to test the relevance of certain institutional factors to address the issue of determinants of economic growth. On the basis of a sample of 71 countries, the main results show that the analysis of the economic performance should not do this only through macroeconomic variables and independent governance systems.