engleski

Measuring the institutional reform in transition

Institutional reforms are the core of transition process from a centrally planned economy to a market economy. These reforms are multidimensional and more difficult to quantify and compare than macroeconomic indicators. The EBRD transition indicators comprise eight categories of transition reforms, incomparable with each other because of various reforms complexity. This paper will illustrate how the problem can be solved using Analytic Hierarchy Process. The aim was to compare the reached level of reforms in European transitional countries.

institutional reform; transition; analytic hierarchy process

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