IMF Working Papers

Institutions Matter in Transition, But so do Policies

March 1, 2000

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International Monetary Fund. "Institutions Matter in Transition, But so do Policies", IMF Working Papers 2000, 070 (2000), accessed 12/7/2025, https://doi.org/10.5089/9781451849141.001

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper’s main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that progress in achieving macroeconomic stabilization and implementing broad-based economic reforms remain the key determinants of growth in transition economies.

Subject: Corruption, Crime, Environment, Housing, Institutional arrangements for revenue administration, Legal support in revenue administration, Macrostructural analysis, National accounts, Revenue administration, Structural reforms

Keywords: a number of governance indicator, Baltics, Central and Eastern Europe, CIS country, Corruption, country competitiveness, country rating, Eastern Europe, growth, growth equation, growth theory, Housing, institutions, Legal support in revenue administration, liberalization policy, market-enhancing institution, orders country, reforms, stabilization, Structural reforms, Transition, transition country, WP

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