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Institutional barriers in the transition to marketexamining performance and divergence in transition economies /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Institutional barriers in the transition to marketChristopher Hartwell.
Reminder of title:	examining performance and divergence in transition economies /
Author:	Hartwell, Christopher,
Published:	Houndmills, Basingstoke, Hampshire :Palgrave Macmillan,2013.
Description:	1 online resource.
Subject:	Economic stabilization.
Online resource:	https://link.springer.com/book/10.1057/9781137323712
ISBN:	9781137323712 (electronic bk.)

Institutional barriers in the transition to marketexamining performance and divergence in transition economies /
Hartwell, Christopher,1973-

Institutional barriers in the transition to marketexamining performance and divergence in transition economies /[electronic resource] :Christopher Hartwell. - Houndmills, Basingstoke, Hampshire :Palgrave Macmillan,2013. - 1 online resource.

Includes bibliographical references.

Foreword -- PART I: INTRODUCTION -- 1. The Challenge: Economics Literature and the Explanation of Transition -- PART II: DEFINING AND MEASURING INSTITUTIONS -- 2. Institutional Systems -- 3. Types of Institutions Within an Institutional System -- 4. Applying the Taxonomy in Transition -- 5. Political Institutions -- 6. Economic Institutions -- 7. How to Measure Institutions? Indicators and Proxies -- PART III: TWO DECADES OF TRANSITION AND INSTITUTIONAL RESEARCH: A REVIEW -- 8. Transition Economics and Explaining 1989-91 -- 9. New Institutional Economics and its Application to Transition Economies -- PART IV: INSTITUTIONS IN TRANSITION: WERE THEY REALLY NEGLECTED? -- 10. What was 'Neglected?' And How? -- 11. Examining the 'Neglect' Argument -- 12. Institutions Before 1989: The Market under Communism -- 13. Institutional Change in Transition -- 14. Political Institutions -- 15. Economic Institutions -- 16. The Correlation between Macroeconomic Stabilization and Institutional Change -- 17. An Econometric Analysis of Institutional Change and Economic Outcomes in Transition -- 18. Conclusions -- PART V: THE RELATIVE IMPORTANCE OF INSTITUTIONS IN ECONOMIC OUTCOMES IN TRANSITION -- 19. Policies versus Institutions: Which is Which? -- 20. Policies versus Institutions: Which is More Important? -- 21. Adding a Third Dimension: A New Model of Growth in Transition -- 22. Results and Analysis -- 23. Instrumenting for Personality -- 24. Conclusions -- PART VI: THE RELATIVE IMPORTANCE OF DIFFERENT INSTITUTIONS IN TRANSITION -- 25. Examining Institutions in Transition -- 26. Modeling Institutional Influence -- 27. Results -- 28. Summary of GLS and GMM Regressions -- 29. Instrumental Variables: Combating Endogeneity -- 30. From Politics to Economics -- 31. From Economics to Politics? -- 32. Moving Beyond Political to Economic (and Back): Cultural and Initial Factors -- 33. Regressions -- 34. Relative Influence of Institutions: Some Conclusions -- PART VII: CONCLUSION AND POLICY RECOMMENDATIONS -- 35. Agenda for Further Research.

Conventional wisdom has it that the transition from communism to capitalism faltered because 'institutions were neglected.' Popular thinkers and even Nobel laureates have proclaimed that the emphasis on stabilization policies (including the much-maligned 'Washington Consensus') in Central/Eastern Europe and the former Soviet Union led to an institutional vacuum and caused more hardship than necessary. This new look at the conventional wisdom finds exactly the opposite is true: surveying 20 years of data, Dr. Christopher Hartwell finds that institutions were not neglected in the transition process, and only in places where they were was there stagnation. Moreover, in a brand-new piece of analysis, this book finds that the leadership of transition countries made as much of a difference for a country's success or failure than the policies pursued. Finally, revisiting the 'institutional neglect' debate, Dr. Hartwell asserts that only a few basic economic institutions, including property rights, were important for a successful transition.

ISBN: 9781137323712 (electronic bk.)

Source: 663730Palgrave Macmillanhttp://www.palgraveconnect.comSubjects--Topical Terms:

184882
Economic stabilization.
Index Terms--Genre/Form:

214472
Electronic books.

LC Class. No.: HB3732 / .H37 2013

Dewey Class. No.: 330.9171/7

Institutional barriers in the transition to marketexamining performance and divergence in transition economies /
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505 0 $a Foreword -- PART I: INTRODUCTION -- 1. The Challenge: Economics Literature and the Explanation of Transition -- PART II: DEFINING AND MEASURING INSTITUTIONS -- 2. Institutional Systems -- 3. Types of Institutions Within an Institutional System -- 4. Applying the Taxonomy in Transition -- 5. Political Institutions -- 6. Economic Institutions -- 7. How to Measure Institutions? Indicators and Proxies -- PART III: TWO DECADES OF TRANSITION AND INSTITUTIONAL RESEARCH: A REVIEW -- 8. Transition Economics and Explaining 1989-91 -- 9. New Institutional Economics and its Application to Transition Economies -- PART IV: INSTITUTIONS IN TRANSITION: WERE THEY REALLY NEGLECTED? -- 10. What was 'Neglected?' And How? -- 11. Examining the 'Neglect' Argument -- 12. Institutions Before 1989: The Market under Communism -- 13. Institutional Change in Transition -- 14. Political Institutions -- 15. Economic Institutions -- 16. The Correlation between Macroeconomic Stabilization and Institutional Change -- 17. An Econometric Analysis of Institutional Change and Economic Outcomes in Transition -- 18. Conclusions -- PART V: THE RELATIVE IMPORTANCE OF INSTITUTIONS IN ECONOMIC OUTCOMES IN TRANSITION -- 19. Policies versus Institutions: Which is Which? -- 20. Policies versus Institutions: Which is More Important? -- 21. Adding a Third Dimension: A New Model of Growth in Transition -- 22. Results and Analysis -- 23. Instrumenting for Personality -- 24. Conclusions -- PART VI: THE RELATIVE IMPORTANCE OF DIFFERENT INSTITUTIONS IN TRANSITION -- 25. Examining Institutions in Transition -- 26. Modeling Institutional Influence -- 27. Results -- 28. Summary of GLS and GMM Regressions -- 29. Instrumental Variables: Combating Endogeneity -- 30. From Politics to Economics -- 31. From Economics to Politics? -- 32. Moving Beyond Political to Economic (and Back): Cultural and Initial Factors -- 33. Regressions -- 34. Relative Influence of Institutions: Some Conclusions -- PART VII: CONCLUSION AND POLICY RECOMMENDATIONS -- 35. Agenda for Further Research.
520 $a Conventional wisdom has it that the transition from communism to capitalism faltered because 'institutions were neglected.' Popular thinkers and even Nobel laureates have proclaimed that the emphasis on stabilization policies (including the much-maligned 'Washington Consensus') in Central/Eastern Europe and the former Soviet Union led to an institutional vacuum and caused more hardship than necessary. This new look at the conventional wisdom finds exactly the opposite is true: surveying 20 years of data, Dr. Christopher Hartwell finds that institutions were not neglected in the transition process, and only in places where they were was there stagnation. Moreover, in a brand-new piece of analysis, this book finds that the leadership of transition countries made as much of a difference for a country's success or failure than the policies pursued. Finally, revisiting the 'institutional neglect' debate, Dr. Hartwell asserts that only a few basic economic institutions, including property rights, were important for a successful transition.
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