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A Structural Model of Institutional Change: Evidence from Transition Economies

Author

Listed:
  • M. Raiser

    (University of Cambridge)

  • Melvyn Weeks

    (University of Cambridge)

Abstract
It is by now widely appreciated that institution building is at the heart of the transition process. Without functioning institutions markets cannot work effectively and the sustainability of the economic transition process can be undermined. The crisis in Russia provided just one piece of evidence in this regard. While institutions are central to the transition process, institutional reform is not an area that is well understood by researchers and policy makers alike. In this paper we examine the determinants of institutional change using a panel dataset comprising 25 transition economies. One of the defining characteristics of our approach is that we treat institutional change as a multidimensional unobserved variable. Although we observe a number of indicators of institutional change we take explicit account of the fact that each indicator represents a noisy signal. In this respect we utilise a Multiple Indicator, Multiple Cause modelling strategy.

Suggested Citation

  • M. Raiser & Melvyn Weeks, 2000. "A Structural Model of Institutional Change: Evidence from Transition Economies," Econometric Society World Congress 2000 Contributed Papers 1689, Econometric Society.
    • Handle: RePEc:ecm:wc2000:1689
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    Cited by:

    1. Maria Laura Di Tommaso & I. Shima & S. Strøm & F. Bettio, 2007. "As bad as it gets: well being deprivation of sexually exploited trafficked women," CHILD Working Papers wp10_07, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
    2. Tindara Addabbo & Maria Laura Di Tommaso & Gisella Facchinetti, 2004. "To what extent fuzzy set theory and structural equation modelling can measure functionings? An application to child well being," CHILD Working Papers wp30_04, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
    3. Dalila De Rosa, 2018. "Capability Approach and Multidimensional Well-Being: The Italian Case of BES," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 140(1), pages 125-155, November.
    4. Maria Laura Di Tommaso, 2006. "Measuring the well being of children using a capability approach An application to Indian data," CHILD Working Papers wp05_06, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
    5. Di Tommaso, Maria Laura, 2007. "Children capabilities: A structural equation model for India," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(3), pages 436-450, June.

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