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Chapter 3INSTITUTIONAL CHANGE AND ECONOMIC PERFORMANCE IN THE TRANSITION ECONOMIES

Paul G. Hare 77

3.1Introduction 77

(i)Political configuration 78

(ii)State capacity 78

(iii)

State objectives 78

(iv)

Outline of paper 79

3.2Institutional change – concepts and definitions 79

(i)Definitions 79

(ii)Typical institutions 80

(iii)Economic behaviour with missing institutions 80

(iv)Theories of institutional change 81

3.3Institutional change in transition economies 83

3.4Links between institutional change and economic performance 86

(i)Macroeconomic studies 86

(ii)Enterprise level studies 88

3.5Conclusions and policy implications 91

(i)Findings and conclusions 91

(ii)Institutions 91

(iii)Policy implications 92

Discussants’ comments on Professor Hare’s paper

3.ADanica Popovic 95

3.BLászló Csaba 97

Chapter 4CORRUPTION IN ECONOMIC DEVELOPMENT: GREASE OR SAND?

Shang-Jin Wei 101

4.1Introduction 101

4.2Corruption: which corruption? 101

(i)Corruption ratings based on “expert opinions” 102

(ii)Corruption ratings based on surveys of firms or citizens 102

(iii)Corruption ratings based on “a poll of polls” 102

(iv)Corruption ratings based on more “objective” and “harder” data 103

4.3Corruption and economic growth 103

(i)Rate of economic growth 103

(ii)Firm-level evidence 104

(iii)Quality of growth 106

4.4Corruption in a globalizing world 107

(i)Corruption reduces the benefits of globalization: a specific example on transition economies 107

(ii)Corruption increases the risks of globalization 107

4.5Corruption control: what can be done? 108

(i)Opportunities derived from government’s role in the economy 108

(ii)Civil servant recruitment and promotion system 109

(iii)Compensation for civil servants 109

(iv)Other elements in an anti-corruption strategy 110

(v)International pressure 111

(vi)Political economy considerations and “special governance zones” 112

4.6Concluding remarks 112

Discussants’ comments on Professor Wei’s paper

4.AKrassen Stanchev 113

4.BIvo Bićanić 115

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