Analysis of factors of economic growth in countries with transitional economy

Abstract: The present master essay discusses the factors of economic growth in countries with economies in transition. We consider two time intervals: transitional recession (1989-1998) and transitional recovery and growth (1998-2008). There are four groups of factors affecting growth: initial conditions, macroeconomic policies, structural reforms and social policies. The work was conducted with the help of cross-sectional regression analysis. It was found that the main condition for the long-term growth is the establishment of sustainable market institutions by the realization of structural reforms.