This paper provides a non-technical summary of a framework for evaluating the transition impact (social returns) of any infrastructure investment that reduces transaction costs and thereby intensifies product market competition. The framework applies both to physical and institutional...

This paper analyses the long term growth experiences of the eastern European accession countries and the effect of various tailored growth policies. We find that there are two overarching growth-enhancing policies that can substantially increase long-term growth: competition and the quality of...