Transition economies experience transformation of their economic system. Following the disintegration of the Soviet Union, a number of former socialist countries underwent transitions from central planning to a market economy. More generally, many rapidly growing economies undergo no less profound transformations of their economic systems.
Contrary to common misconception, the transition process cannot be simply reduced to eliminating state intervention and liberalizing the economy. Economies under transition exhibit a unique set of policy challenges. Unlike developed market economies, missing markets or market failures abound. Economic transformation takes the form of rapidly evolving patterns of international trade and investment, industrial structure and consumption. These changes call for appropriate public policies. A continuing flow of investment hinges on suitable institutions, the provision of public infrastructure and other public goods. Adequate regulation can be central in ensuring that environmental resources are sustainably managed. And sophisticated production systems, call for corresponding social institutions in terms of education, health and welfare provisions. In all these cases, accurate empirical assessments are central to the design of effective policy.
This book presents a selection of pressing economic and social issues in transition economies. Selected issues include the development of particular industrial sectors, the drivers and consequences of foreign direct investment, public finances, urbanization, social indicators, environmental policy and energy diversification. In each case an original empirical analysis is performed, using a variety of advanced quantitative methods, applied to recent data. The book will be of interest to economists studying transition economies, economic development or having a general interest in applied economics. It will be of particular interest to applied economists, policy analysts and policy makers in transition economies, concerned with the shape and direction of appropriate economic reforms.
Chapter 1: Tourism Development - Economic Growth Nexus: New Evidence From Transition Countries
Mahmut Zortuk, Semih Karacan
Chapter 2: Analyzing the Shadow Economy of Selected Transition Economies by a MIMIC Model
Noyan Aydin
Chapter 3: Neoliberal Transformation and Practices of Privatization in Transition Economies
Eray Acar
Chapter 4: The Impact of FDI on Economic Growth in the Transition Countries: A Panel Quantile Regression Approach
Mahmut Zortuk, Seyhat Bayrak Gezdim
Chapter 5: The Impact of Foreign Direct Investment on Tax Revenues : Evidence from Selected Transition Economies
Berna Hizarci Beser, Mustafa Kemal Beser
Chapter 6: Evaluation of FDI Attractiveness of Selected Transition Economies: An Analytic Network Process Based BOCR Approach
Eylem Acar, Hasan Arda Burhan
Chapter 7: Investigation of Association Between Social and Economic Indicators of Transition Countries by Canonical Correlation Analysis
Noyan Aydin, Erkan Ari
Chapter 8: Urbanization and CO2 Emissions In Transition Economies: A Neural Network Approach
Sema Behdioglu, Fadime Çelik
Chapter 9: An Emprical Approach to the Use of Renewable Energy Sources in Transition Economies
Yavuz Bozkurt, Semih Karacan
Chapter 10: The Investigation of Female Labor Force Indicators by Using Clustering and Multidimensional Scaling Analysis
Erkan Ari, Aysegül Yildiz
Chapter 11: The Economic Preferences Necessary for Avoiding the Middle Income Trap: An Analysis on Selected Transition Economies
Hakan Acaroglu
Chapter 12: Measuring Quality of Life in Transition Economies: Mimic Model Approach
Sema Behdioglu, Neslihan Çilesiz
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