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Economic Effects of Post-Socialist Constitutions 25 Years from the Outset of Transition

The Constitutional Political Economy Approach

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Katarzyna Metelska-Szaniawska

This book focuses on the nexus between constitutions adopted by post-socialist countries of Europe and Asia after 1989 and economic transition in the region. It takes the perspective of Constitutional Political Economy and argues for the role of constitutions as commitment-enhancing mechanisms for political decision makers in the field of post-socialist economic reforms. For the first time in economic studies of constitutions this book employs the synthetic control method – a novel empirical approach allowing to account for endogeneity and causality issues. The blend of theory (including evolutionary insights) and empirical results allows to formulate recommendations for constitution drafters, emphasizing the role of factual constitutional court independence for successful economic reforms.
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Chapter 3. Regression analyses of economic effects of post-socialist constitutions

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Chapter 3.  Regression analyses of economic effects of post-socialist constitutions

In this chapter we undertake an empirical study aiming to confirm the significance of constitutional frameworks for performance in the field of economic reforms in post-socialist countries of Europe and Asia from 1989 to 2012. To this end we re-estimate the model first introduced in Metelska-Szaniawska (2008, 2009) and applied for the time periods 1989–2001 and 1989–2004, respectively. The main question that we ask the data is whether given the now considerably longer transition time period under analysis and much more reliable data, the main findings of those earlier studies, summarized in Section 1.4, hold.

We begin by presenting the design of the empirical model, as well as descriptions of the dependent and crucial independent variables (together with their data sources). For more details on these issues we direct the reader to the sources mentioned above. We then report and discuss the results. In the last section we put forth the most important conclusions and reflections.

3.1  The empirical model

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