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Institutional reform and export competitiveness of central and Eastern European economies

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posted on 2016-01-01, 00:00 authored by Doren Chadee, Alexander Kouznetsov, Banjo Roxas
Following their political and economic independence in 1989, a group of ten Central and Eastern European countries (CEEs) embarked on major institutional reforms to modernise their economies in order to become an integral part of the global economy. This chapter provides an overview of the main institutional reforms undertaken in the CEEs and their effects on export competitiveness. The chapter focuses on selected meso and macro institutional reforms, namely price liberalisation, competition policy, trade and foreign exchange, privatisation, and corporate governance. The results show that institutional reforms in the CEEs were rapid and generally successful. All CEEs became members of the European Union (EU) and the World Trade Organization (WTO). Institutional reforms contributed significantly to improved efficiency and growth in the export sector. The results also suggest that further reforms are needed to improve competition policy and corporate governance, both of which are still below the standards found in Western industrialised countries.

History

Title of book

International business: concepts, methodologies, tools, and applications

Chapter number

65

Pagination

1402 - 1425

Publisher

IGI Global

Place of publication

Hershey, Pa

ISBN-13

9781466698161

Language

eng

Publication classification

B1 Book chapter; B Book chapter

Copyright notice

2016, IGI Global

Extent

108

Editor/Contributor(s)

M Khosrow-Pour

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