It is Important to Organise the Disorganised

Bibliographic Data

ID12846342
AuthorsTjaša Redek (0000-0003-3100-7208, University of Ljubljana, corresponding author)
Year2005
Volume27
Issue2
Pages227-245
Publication date2005-12-01
Open AccessYes
TypeARTICLE
VenueSociety and Economy (JOURNAL)
Journal identifiersISSN: 1588-970X • E-ISSN: 1588-9726
PublisherAkadémiai Kiadó (PUBLISHER • HU)
DOI10.1556/socec.27.2005.2.4
OpenAlexW1994112522
LanguageEN
References cited12

The article examines the significance of institutional quality for economic performance during transition. Institutions are the rules of the game. In any economy the most important institutions are the legal system, the state, the structure of the financial system and the system of international relations. The process of economic transition in Central and Eastern Europe was mainly a process of massive institutional changes which were spurred by economic causes and also themselves had significant economic consequences. The article examines the institutional changes in transition economies and shows that institutions matter. The first decade of transition gave the impression that it is important to build as good institutional framework as possible and as fast as possible. But today, with the quick growth of some South Eastern European economies, it seems not to hold that the better the institutions the better the economic performance, but rather to (at least) establish some satisfactory level of institutional quality is important to resume growth, which can also be assisted by foreign capital

Business · Capital (architecture · Economic system · Economics · Economy · Institutional change · Institutional economics · Market economy · Planned economy · Political science · Process (computing · Quality (philosophy · State (computer science · Transition (genetics · Fiscal Policies and Political Economy · Global Financial Crisis and Policies · Russia and Soviet political economy

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