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)| false Olson, Mancur, Naveen Sarnaand Anand V. Swamy, 1997, “ Governance and Growth: A Simple Hypothesis Explaining Cross-Country Differences in Productivity Growth,” a draft paper for the Center of Economic Growth of the United States Agency for International Development.
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This paper was prepared as a background study for a general review of growth in transition economies undertaken in the International Monetary Fund’s European II Department. We are grateful to John Odling-Smee, Gérard Bélanger, Tom Wolf, Jeromin Zettelmeyer and many others who gave comments and reactions to previous versions of this work. The views expressed in the paper are those of the authors and do not represent the position or official views of the International Monetary Fund.
On catch-up see Fischer, Sahay and Vegh (1996) and Sachs, Warner (1996). The former, for example, calculate that with a per capita growth rate of 4.75 percent annually it would take on average 35 years to catch up to the average OECD level. With a growth rate of 4 percent it would take 45 years.
Albania, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, FYR of Macedonia, Poland, Romania, Slovak Republic, and Slovenia.
Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.