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

Author(s): Felix Eschenbach and Bernard Hoekman

Publication Date: April 2006

Keyword(s): economic growth, services and transition economies

Programme Area(s): International Trade and Regional Economics

Abstract: 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. We find that reforms in policies towards financial and infrastructure services, including telecommunications, power and transport, are highly correlated with inward FDI. Controlling for regressors commonly used in the growth literature, we 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.

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Bibliographic Reference

Eschenbach, F and Hoekman, B. 2006. 'Services Policy Reform and Economic Growth in Transition Economies, 1990-2004'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=5625