The Social Science Library » Culture, Cognitive Models, and the Performance of Institutions in Transformation Countries

Culture, Cognitive Models, and the Performance of Institutions in Transformation Countries

Author(s)	Rosenbaum, Eckehard F.
Abstract	Assuming that Central and Eastern Europe lacked the political, legal, economic, and social institutions of a market economy, it has generally been argued that only far-reaching institutional reforms can bring about the conditions under which growth will pick up again and which will allow Central and Eastern Europe to achieve income levels comparable to those in the European Union or North America. The evidence in this respect is mixed, though. The transformation of Central and Eastern Europe has been a heterogeneous phenomenon from the start. Even more puzzling, perhaps, reform progress can account for merely 25 percent of the differences between average growth rates. Casual evidence suggests, moreover, that enacting new institutions is insufficient as long as they are badly enforced or implemented. Different historical experiences as well as cultural traditions across Eastern Europe may be at work. The line of enquiry presented in this paper is based on an evolutionary-informed approach to understanding human nature along the lines suggested by Thorstein Veblen.
IssueNo	4
Pages	889-909
Article	Access to Article
Source	Journal of Economic Issues
VolumeNo	35
PubDate	December 2001
ISBN_ISSN	0021-3624
Browse Path(s)

Culture, Cognitive Models, and the Performance of Institutions in Transformation Countries