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When Russia launched mass privatization, it was widely believed that it would create a powerful constituency for the rule of law. That didn't happen. We present a dynamic equilibrium model of the political demand for the rule of law and show that beneficiaries of mass privatization may fail to...
Persistent link: https://www.econbiz.de/10012469426
While output declined in virtually all transition economies in the initial years, the speed and extent of the recovery … conditions, external factors, and reform strategies. This paper summarizes the macroeconomic performance of the transition …
Persistent link: https://www.econbiz.de/10012471103
This paper examines alternative hypotheses concerning the determinants of success in the transition from Communism to … important in explaining the growth of the transition countries in the years since the end of the Cold War. In the mid 90s a …
Persistent link: https://www.econbiz.de/10012466679
We have conducted the first survey on management practices in transition countries. We found that Central Asian … transition countries, such as Uzbekistan and Kazakhstan, have on average very poor management practices. Their average scores are … below emerging countries such as Brazil, China and India. In contrast, the central European transition countries such as …
Persistent link: https://www.econbiz.de/10012461426
In this essay I review the new book by Torsten Persson and Guido Tabellini, The Economic Effects of Constitutions, which investigates the policy and economic consequences of different forms of government and electoral rules. I also take advantage of this opportunity to discuss the advantages and...
Persistent link: https://www.econbiz.de/10012467450
A self-enforcing constitution creates a political process that provides an alternative to civil conflict for resolving disputes among the constituent groups of the polity. This paper is concerned with discovering the conditions under which it is possible to design such a self-enforcing...
Persistent link: https://www.econbiz.de/10012469982
Post-communist countries offer new evidence on the relative importance of courts and relationships in enforcing contracts. Belief in the effectiveness of courts has a significant positive effect on the level of trust shown in new relationships between firms and their customers. Well-functioning...
Persistent link: https://www.econbiz.de/10012470146
determinants of household saving rates in transition economies. We find savings rates to increase strongly in relative income and … household in the transition process, notably the sector of employment, plays no significant role in determining savings rates …
Persistent link: https://www.econbiz.de/10012472348
Which is the tighter constraint on private sector investment: weak property rights or limited access to external finance? From a survey of new firms in post-communist countries, we find that weak property rights discourage firms from reinvesting their profits, even when bank loans are available....
Persistent link: https://www.econbiz.de/10012469863
reforms. It computes a complementarity index based on structural reform indicators compiled by the EBRD for transition …
Persistent link: https://www.econbiz.de/10012466121