Rural institution sequencing and timing in transition economies

The success of the overall reform efforts in transition economies depends to a considerable extent on the existence of adequate institutions. The timing and sequencing of agrarian, economic and financial institutions in transition countries are of enormous political as well as of economic interest. Effective and efficient institutions provide incentives for the economy to invest and, thus, stimulate growth. Particularly in transition countries, the effectiveness of the overall reform efforts has been disappointing and the cause was often associated with the non-existence of adequate institutions. The contributions in this edited volume are the result of the mini-symposium “Rural Institution Sequencing and Timing in Transition Economies“ at the international conference on “Managing Tomorrow’s Agriculture: Incentives, Institutions, Infrastructure and Innovations” in Berlin, August 13-19, 2000 of the International Association of Agricultural Economists (IAAE). The contributions discuss and evaluate whether there are specific components of the reform process that are best implemented at specific stages of the rural economic transformation, and thus they illustrate the institution sequencing and timing in several rural economic sectors of transition economies. The book is organized in three parts that correspond to the mini-symposium mentioned before: Institution sequencing and timing in the rural economic economy, Institution sequencing and timing in the agricultural sector, and Institution sequencing and timing in the rural finance sector. Institutional issues in reforming the rural economy are addressed using case studies from transition countries of Central and Eastern Europe, the former Soviet Union and China.