Economic Growth in the Post-socialist Countries: 1990–2003
The analysis of growth covers 27 countries and is divided into two parts. In part one we present the characteristics of growth paths during the process of transformation. The objective of the second part has been the identification of shares contributed to the growth of real GDP by inputs of labour and capital on the one hand and the increased productivity of these factors (TFP). I appeared that the most important driving force of GDP growth had been the changes in TFP. In Central Europe the highest rate of TFP increase was observed in the Baltic countries - higher than, e.g. in Czech Republic or Hungary. TFP increases among countries of other regions were the highest in Turkmenistan and Serbia Montenegro. Sensitivity analysis indicates that our results are stable and only weakly depend on model parameters.
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