Services Policy Reform and Economic Growth in Transition Economies, 1990-2004

Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment, and international transactions. However, large differences exist across transition economies with respect to services intensity and services policy...

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Main Authors:	Eschenbach, Felix, Hoekman, Bernard
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTING AGRICULTURE ASYMMETRIC INFORMATION AVERAGE PERFORMANCE BANK REFORM BANKING LAWS BANKING REFORM BANKING SECTOR BANKING SERVICES BANKRUPTCY BARRIERS TO ENTRY CAPITAL BASE CAPITAL MARKETS CD CENTRAL ASIAN CENTRAL BANK CENTRAL PLANNING CENTRALLY PLANNED ECONOMIES COMPARATIVE ECONOMICS COMPETITION POLICY COMPETITIVENESS CONSUMERS CORPORATE GOVERNANCE COSTS OF ROAD USE DEREGULATION DIRECT INVESTMENT DIVISION OF LABOR EAST EUROPEAN ECONOMETRIC EVIDENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STRUCTURE ECONOMIES OF SCALE ELECTRICITY EMPIRICAL ANALYSIS EMPLOYMENT EQUILIBRIUM EQUILIBRIUM MODELS EXOGENOUS VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FISHING FIXED COSTS FOREIGN COMPETITION FOREIGN EXCHANGE FOREIGN EXCHANGE REGIME FORESTRY GDP GROSS FIXED CAPITAL FORMATION GROWTH PERFORMANCE GROWTH RATE GROWTH RATES GROWTH THEORY HEALTH SERVICES HOUSING HUMAN CAPITAL IMPORTS INCOME INDUSTRIAL ECONOMIES INFLATION INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATE INVESTMENT CLIMATE LABOR FORCE LABOR INPUTS LABOR PRODUCTIVITY LEGAL FRAMEWORK MACROECONOMIC STABILITY MACROECONOMICS MARKET ECONOMY MONETARY ECONOMICS NATURAL MONOPOLIES PER CAPITA INCOMES POLITICAL ECONOMY POLLUTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PUBLIC CONSULTATION PUBLIC OWNERSHIP QUALITY STANDARDS REGULATORY FRAMEWORK REGULATORY REGIMES REVENUE COLLECTION ROADS SAVINGS SECURITIES SECURITIES MARKETS SOCIAL WORK TARIFF BARRIERS TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TIME SERIES TRANSITION ECONOMIES TRANSPORT USER CHARGES UTILITIES WATER SUPPLY WTO
Online Access:	http://documents.worldbank.org/curated/en/2005/07/6054384/services-policy-reform-economic-growth-transition-economies-1990-2004 http://hdl.handle.net/10986/8205

id	okr-10986-8205
recordtype	oai_dc
spelling	okr-10986-82052021-04-23T14:02:43Z Services Policy Reform and Economic Growth in Transition Economies, 1990-2004 Eschenbach, Felix Hoekman, Bernard ACCOUNTING AGRICULTURE ASYMMETRIC INFORMATION AVERAGE PERFORMANCE BANK REFORM BANKING LAWS BANKING REFORM BANKING SECTOR BANKING SERVICES BANKRUPTCY BARRIERS TO ENTRY CAPITAL BASE CAPITAL MARKETS CD CENTRAL ASIAN CENTRAL BANK CENTRAL PLANNING CENTRALLY PLANNED ECONOMIES COMPARATIVE ECONOMICS COMPETITION POLICY COMPETITIVENESS CONSUMERS CORPORATE GOVERNANCE COSTS OF ROAD USE DEREGULATION DIRECT INVESTMENT DIVISION OF LABOR EAST EUROPEAN ECONOMETRIC EVIDENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STRUCTURE ECONOMIES OF SCALE ELECTRICITY EMPIRICAL ANALYSIS EMPLOYMENT EQUILIBRIUM EQUILIBRIUM MODELS EXOGENOUS VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FISHING FIXED COSTS FOREIGN COMPETITION FOREIGN EXCHANGE FOREIGN EXCHANGE REGIME FORESTRY GDP GROSS FIXED CAPITAL FORMATION GROWTH PERFORMANCE GROWTH RATE GROWTH RATES GROWTH THEORY HEALTH SERVICES HOUSING HUMAN CAPITAL IMPORTS INCOME INDUSTRIAL ECONOMIES INFLATION INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATE INVESTMENT CLIMATE LABOR FORCE LABOR INPUTS LABOR PRODUCTIVITY LEGAL FRAMEWORK MACROECONOMIC STABILITY MACROECONOMICS MARKET ECONOMY MONETARY ECONOMICS NATURAL MONOPOLIES PER CAPITA INCOMES POLITICAL ECONOMY POLLUTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PUBLIC CONSULTATION PUBLIC OWNERSHIP QUALITY STANDARDS REGULATORY FRAMEWORK REGULATORY REGIMES REVENUE COLLECTION ROADS SAVINGS SECURITIES SECURITIES MARKETS SOCIAL WORK TARIFF BARRIERS TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TIME SERIES TRANSITION ECONOMIES TRANSPORT USER CHARGES UTILITIES WATER SUPPLY WTO Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment, and international transactions. However, large differences exist across transition economies with respect to services intensity and services policy reforms. The authors find that reforms in policies toward financial and infrastructure services, including telecommunications, power, and transport, are highly correlated with inward foreign direct investment. Controlling for regressors commonly used in the growth literature, they find that measures of services policy reform are statistically significant explanatory variables for the post-1990 economic performance of transition economies. These findings suggest services policies should be considered more generally in empirical analyses of economic growth 2012-06-15T20:23:27Z 2012-06-15T20:23:27Z 2005-07 http://documents.worldbank.org/curated/en/2005/07/6054384/services-policy-reform-economic-growth-transition-economies-1990-2004 http://hdl.handle.net/10986/8205 English Policy Research Working Paper; No. 3663 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Europe and Central Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTING AGRICULTURE ASYMMETRIC INFORMATION AVERAGE PERFORMANCE BANK REFORM BANKING LAWS BANKING REFORM BANKING SECTOR BANKING SERVICES BANKRUPTCY BARRIERS TO ENTRY CAPITAL BASE CAPITAL MARKETS CD CENTRAL ASIAN CENTRAL BANK CENTRAL PLANNING CENTRALLY PLANNED ECONOMIES COMPARATIVE ECONOMICS COMPETITION POLICY COMPETITIVENESS CONSUMERS CORPORATE GOVERNANCE COSTS OF ROAD USE DEREGULATION DIRECT INVESTMENT DIVISION OF LABOR EAST EUROPEAN ECONOMETRIC EVIDENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STRUCTURE ECONOMIES OF SCALE ELECTRICITY EMPIRICAL ANALYSIS EMPLOYMENT EQUILIBRIUM EQUILIBRIUM MODELS EXOGENOUS VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FISHING FIXED COSTS FOREIGN COMPETITION FOREIGN EXCHANGE FOREIGN EXCHANGE REGIME FORESTRY GDP GROSS FIXED CAPITAL FORMATION GROWTH PERFORMANCE GROWTH RATE GROWTH RATES GROWTH THEORY HEALTH SERVICES HOUSING HUMAN CAPITAL IMPORTS INCOME INDUSTRIAL ECONOMIES INFLATION INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATE INVESTMENT CLIMATE LABOR FORCE LABOR INPUTS LABOR PRODUCTIVITY LEGAL FRAMEWORK MACROECONOMIC STABILITY MACROECONOMICS MARKET ECONOMY MONETARY ECONOMICS NATURAL MONOPOLIES PER CAPITA INCOMES POLITICAL ECONOMY POLLUTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PUBLIC CONSULTATION PUBLIC OWNERSHIP QUALITY STANDARDS REGULATORY FRAMEWORK REGULATORY REGIMES REVENUE COLLECTION ROADS SAVINGS SECURITIES SECURITIES MARKETS SOCIAL WORK TARIFF BARRIERS TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TIME SERIES TRANSITION ECONOMIES TRANSPORT USER CHARGES UTILITIES WATER SUPPLY WTO
spellingShingle	ACCOUNTING AGRICULTURE ASYMMETRIC INFORMATION AVERAGE PERFORMANCE BANK REFORM BANKING LAWS BANKING REFORM BANKING SECTOR BANKING SERVICES BANKRUPTCY BARRIERS TO ENTRY CAPITAL BASE CAPITAL MARKETS CD CENTRAL ASIAN CENTRAL BANK CENTRAL PLANNING CENTRALLY PLANNED ECONOMIES COMPARATIVE ECONOMICS COMPETITION POLICY COMPETITIVENESS CONSUMERS CORPORATE GOVERNANCE COSTS OF ROAD USE DEREGULATION DIRECT INVESTMENT DIVISION OF LABOR EAST EUROPEAN ECONOMETRIC EVIDENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STRUCTURE ECONOMIES OF SCALE ELECTRICITY EMPIRICAL ANALYSIS EMPLOYMENT EQUILIBRIUM EQUILIBRIUM MODELS EXOGENOUS VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FISHING FIXED COSTS FOREIGN COMPETITION FOREIGN EXCHANGE FOREIGN EXCHANGE REGIME FORESTRY GDP GROSS FIXED CAPITAL FORMATION GROWTH PERFORMANCE GROWTH RATE GROWTH RATES GROWTH THEORY HEALTH SERVICES HOUSING HUMAN CAPITAL IMPORTS INCOME INDUSTRIAL ECONOMIES INFLATION INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATE INVESTMENT CLIMATE LABOR FORCE LABOR INPUTS LABOR PRODUCTIVITY LEGAL FRAMEWORK MACROECONOMIC STABILITY MACROECONOMICS MARKET ECONOMY MONETARY ECONOMICS NATURAL MONOPOLIES PER CAPITA INCOMES POLITICAL ECONOMY POLLUTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PUBLIC CONSULTATION PUBLIC OWNERSHIP QUALITY STANDARDS REGULATORY FRAMEWORK REGULATORY REGIMES REVENUE COLLECTION ROADS SAVINGS SECURITIES SECURITIES MARKETS SOCIAL WORK TARIFF BARRIERS TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TIME SERIES TRANSITION ECONOMIES TRANSPORT USER CHARGES UTILITIES WATER SUPPLY WTO Eschenbach, Felix Hoekman, Bernard Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
geographic_facet	Europe and Central Asia
relation	Policy Research Working Paper; No. 3663
description	Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment, and international transactions. However, large differences exist across transition economies with respect to services intensity and services policy reforms. The authors find that reforms in policies toward financial and infrastructure services, including telecommunications, power, and transport, are highly correlated with inward foreign direct investment. Controlling for regressors commonly used in the growth literature, they find that measures of services policy reform are statistically significant explanatory variables for the post-1990 economic performance of transition economies. These findings suggest services policies should be considered more generally in empirical analyses of economic growth
format	Publications & Research :: Policy Research Working Paper
author	Eschenbach, Felix Hoekman, Bernard
author_facet	Eschenbach, Felix Hoekman, Bernard
author_sort	Eschenbach, Felix
title	Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
title_short	Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
title_full	Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
title_fullStr	Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
title_full_unstemmed	Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
title_sort	services policy reform and economic growth in transition economies, 1990-2004
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/07/6054384/services-policy-reform-economic-growth-transition-economies-1990-2004 http://hdl.handle.net/10986/8205
_version_	1764407495031259136

Services Policy Reform and Economic Growth in Transition Economies, 1990-2004

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