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Essay / Research Paper Abstract
This 9 page paper considers how important the role of institutions are for the economic transition of the Eastern European economies. The paper starts by defining what is meant by an institution, and then shows the influence by making use of many examples to illustrate points raised. The paper argues that it is lack of institutional influence that allows economic collapse during a transition, and institutional support and influence that aids it. The bibliography cites 6 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEectrans.rtf
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Unformatted sample text from the term paper:
transitions is a major perceived benefit. For an economic transition to take place there is the need for institutional support and guidance. If we look at countries such as Spain
and more recently Greece, the joining of the EU and the increased institutional influences have had a very positive impact on economic development. When looking at the Eastern European
countries where there is currently an economic transformation taking place, the transition has been occurring for many years. WE can argue that the institutional influences are very important as it
appears when there were few or no institutional influences on the economy in individual countries there were a collapses of the economy in those areas (Murrell, 2002). This correlated with
the loss of institutional support and structures on which the economy could rely. If we are to argue that the Eastern European Counties benefit form the intuitional support I
order to see economic transformation take place then we first need to define what we mean by an institution. An institution may be political, legal, social or economic. However, it
is the political and economic institutions that have a direct influence, and the legal institution may reflect the political position of the economy. Institution may be defined as; "An
established or organized society or corporation; an establishment, especially of a public character, or affecting a community; a foundation; as, a literary institution; a charitable institution; also, a building or
the buildings occupied or used by such organization; as, the Smithsonian Institution" (Dictonary.com, 2004). Therefore an institution is an established body, it is also the way that this body impacts
in the economy and the factors impacting in the economy that is important. The definition of institution being " custom, practice, relationship, or behavioural pattern of importance in the life
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