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Economic reforms and human development: evidence from transition economies

journal contribution
posted on 2023-05-19, 23:25 authored by Carvalho, A, Nepal, R, Jamasb, T
Do market-oriented economic reforms result in higher levels of human well-being? This article studies the impact of macro-level institutional and infrastructure reforms on the economic, educational and health dimensions of human well-being among 25 transition economies. We use panel data econometrics based on the LSDVC technique to analyse the effects of market-oriented reforms on the human development index (HDI), as a measure of human well-being, from 1992 to 2007. The results show the complexity of reform impacts in transition countries. They show that institutional and economic reforms led to positive economic effect and significant impacts on other dimensions of human development. We find some positive economic impacts from infrastructure sectors reforms. However, not every reform measure appears to generate positive impacts. Large-scale privatizations show negative effects in health and economic outcomes. The overall results show the importance of the interaction among different reform measures and the combined effect of these on human development.

History

Publication title

Applied Economics

Volume

48

Issue

14

Pagination

1330-1347

ISSN

0003-6846

Department/School

TSBE

Publisher

Routledge Taylor & Francis Ltd

Place of publication

4 Park Square, Milton Park, Abingdon, England, Oxfordshire, Ox14 4Rn

Rights statement

Copyright 2015 Taylor & Francis

Repository Status

  • Restricted

Socio-economic Objectives

Industrial organisations; Industry policy; Market-based mechanisms

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