… a predictable institutional framework for market development. In fact, evidence in this paper
suggests that all transition economies still have a long way to go in building such institutions. …

… between informal institutions and economic development. … be negatively affected by the
inheritance of a socialist past. … lack of government credibility on economic performance. Generally…

… The historical laboratory of the transition economies has … ," one would effectively describe
Soviet-type socialism. A … destroyed the credibility of government pronouncements and policies. …

… they emerge from their thoroughly discredited past, such as … socialist institutions have clearly
failed to generate socialist … the sudden loss of an institution's credibility. The same effect can …

… produced rapid economic growth in planned economies give … First, we examine the problem
of the transition from … in money terms to the suppliers for the sake of more reliable deliveries (…

… This paper reviews the empirical literature, focussing on its relevance to transitional economies.
We conclude that institutions matter profoundly for economic growth and development. …

… other unpleasantt features of the socialist past have vanished to be … a robustt relationship
between credibility and growth. More … with growth in transition countries,, credibility becomes …

… of transition, in almost all Former Communist Economies (… Real socialism proved that
industrialisation should not have to … is a reliable estimate of the impact of institutions on economic …

… patterns of transition 70 4.3 The effect of institutional strategies on economic performance
(… could proceed along semi-socialist development paths involving large state sectors and …

… controlling for levels of economic development and a host of … formal institutions (eg. past
the end of socialist rule) because … that are based on more reliable corruption data, producing …