To the list of articles11 july 2007
WP/07/01 Market Reforms and Economic Growth in the Post-Socialist Countries: Results of the Econometric Analysis
This paper examines the impact of market reforms on the economic growth, based on panel data from 26 post-socialist countries in the period from 1989 to 2005. Taking into account the dynamic properties of the data used, the analysis is based on the concept of cointegration and equilibrium correction model with respect to the panel data. The results of the analysis indicate the existence of cointegration between the levels of EBRD transition index and GDP per capita and, therefore, the existence of the equilibrium path in their dynamics.