Journal Article

Liberalization, Endogenous Institutions, and Growth: A Comparative Analysis of Agricultural Reforms in Africa, Asia, and Europe

Johan F.M. Swinnen, Anneleen Vandeplas and Miet Maertens

in The World Bank Economic Review

Volume 24, issue 3, pages 412-445
Published in print October 2010 | ISSN: 0258-6770
Published online December 2010 | e-ISSN: 1564-698X | DOI: http://dx.doi.org/10.1093/wber/lhq017
Liberalization, Endogenous Institutions, and Growth: A Comparative Analysis of Agricultural Reforms in Africa, Asia, and Europe

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  • Economic Development
  • Economic Growth and Aggregate Productivity
  • Economywide Country Studies
  • Agricultural Economics

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Thirty years ago, a vast share of low- and middle-income countries was heavily state controlled. The liberalizations of the 1980s and 1990s had greatly different effects on growth in countries in Africa, Asia, and Europe. A comparative framework is used to document these differences, and a model is developed to formally analyze how liberalization affects production and income distribution when the institutions that govern production and exchange are also affected. Hypotheses are derived for how endogenous institutional adjustments affect the growth response to liberalization. These insights motivate a series of explanations for the differences in performance across regions and commodities following liberalization.

Keywords: O13; O43; O57; Q12

Journal Article.  12087 words.  Illustrated.

Subjects: Economic Development ; Economic Growth and Aggregate Productivity ; Economywide Country Studies ; Agricultural Economics

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