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Economic Reforms and Human Development: Evidence from Transition Economies

Carvalho, A.; Nepal, R.; Jamasb, T.

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Authors

A. Carvalho

R. Nepal

T. Jamasb



Abstract

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.

Citation

Carvalho, A., Nepal, R., & Jamasb, T. (2016). Economic Reforms and Human Development: Evidence from Transition Economies. Applied Economics, 48(14), 1330-1347. https://doi.org/10.1080/00036846.2015.1100251

Journal Article Type Article
Acceptance Date Sep 22, 2015
Online Publication Date Oct 21, 2015
Publication Date Mar 1, 2016
Deposit Date Sep 23, 2015
Publicly Available Date Mar 28, 2024
Journal Applied Economics
Print ISSN 0003-6846
Electronic ISSN 1466-4283
Publisher Taylor and Francis Group
Peer Reviewed Peer Reviewed
Volume 48
Issue 14
Pages 1330-1347
DOI https://doi.org/10.1080/00036846.2015.1100251
Keywords Human development, Transition economies, Institutions, Market reforms, C33, O15, P20.
Public URL https://durham-repository.worktribe.com/output/1402320

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