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Convergence in transition countries - focus on investment

Estrin, Saul ORCID: 0000-0002-3447-8593, Lazarova, Stepana and Urga, Giovanni (2001) Convergence in transition countries - focus on investment. Economics of Planning, 34 (3). pp. 215-230. ISSN 0013-0451

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Identification Number: 10.1023/A:1011810922630


Our data on investment in Central and Eastern European economies reveal that, though investment rates were typically high in the 1970s, the marginal efficiency of investment was low. Investment shares begun to decline in the 1980s, before the collapse of the communist system, but there was some recovery in most countries after transition. We use the Kalman filter framework to test for convergence in investment rates. We find some evidence of convergence in Central European countries – former Czechoslovakia, Poland and the countries of the former Yugoslavia. For the remainder of the socialist bloc, however, we were unable to isolate convergence in investment shares.

Item Type: Article
Official URL:
Additional Information: © 2001 Springer Verlag
Divisions: Management
Subjects: H Social Sciences > HG Finance
Date Deposited: 12 Jan 2009 20:23
Last Modified: 15 May 2024 23:55

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