The economic and institutional determinants of the ‘New Economy’ in transition economies

M. Piatkowski

doi:10.1556/aoecon.53.2003.1.1

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Acta Oeconomica

Volume/Issue:: Volume 53: Issue 1

The economic and institutional determinants of the ‘New Economy’ in transition economies

Author:

M. Piatkowski

M. Piatkowski TIGER (Transformation, Integration, and Globalisation Economic Research), Leon Koźmiński Academy of Entrepreneurship and Management, ul. Jagiellońska 59, 03-301 Warsaw, Poland. E-mail: mpiatek@tiger.edu.pl

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Pages:: 1–27

Online Publication Date:: Mar 2003

Publication Date:: 01 Mar 2003

Article Category:: Journal Article

DOI:: https://doi.org/10.1556/aoecon.53.2003.1.1

Keywords:: post-communist transition; new economy; ICT; economic growth; O1; O2; O3; O5

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The contribution of the so-called ‘New Economy’ to economic growth in developing countries has so far been minimal. Nonetheless, in the longer run the ‘New Economy’ offers great potential for faster economic growth in post-socialist economies. Realising this potential is, however, not automatic. It could be left unharnessed if there is no suitable institutional and economic infrastructure that would allow for adoption, diffusion, and productive use of information and communication technologies (ICT). The paper here will construct a New Economy Indicator (NEI) that measures the levels of preparedness of transition economies for harnessing the potential of ICT to accelerate long-term economic growth and a catching-up with the developed countries. In the NEI ranking Slovenia scored highest; it is followed by the Czech Republic and Hungary. Albania, Bosnia and Herzegovina, and Serbia–Montenegro (former Yugoslavia) occupy the bottom of the table.

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Acta Oeconomica Periodical of the Hungarian Academy of Sciences

Print ISSN:: 0001-6373

Online ISSN:: 1588-2659

Associate Editors

Péter Benczúr, Joint Joint Research Center, European Commission
Dóra Benedek, International Monetary Fund
Balázs Égert, OECD
Dániel Prinz, World Bank
Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

Anders Åslund, Georgetown University and Advisory Council of CASE, USA
István Benczes, Corvinus University of Budapest, Hungary
Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
Fabrizio Coricelli, University of Siena, Italy
László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
Martin Kahanec, Central European University, Austria
Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
Péter Mihályi, Corvinus University of Budapest, Hungary
Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

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Acta Oeconomica
Language	English
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