Title: Growth and corporate governance in transition economies: an adaptation of the Ramsey model

Authors: Giovanni D'Orio, Tsvetomira Tsenova

Addresses: Department of Economics and Statistics, University of Calabria, 87036 Arcavacata di Rende (CS), Italy. ' Economics Institute, Bulgarian Academy of Science, 3 Aksakov Str., 1040 Sofia, Bulgaria

Abstract: Does corporate governance matter? Is it an important point with which politicians and economists of transition economies have to deal? Which is the model of corporate governance that will help transition economies to move towards a sustainable path of growth? Why does the economic performance of the transition economies differ and could this be due to the different types of public ownership chosen in their process of restructuring? This paper tries to provide a theoretical explanation to these questions.

Keywords: corporate governance; sustainable growth; transition economies; economic growth; Ramsey model.

DOI: 10.1504/IJBGE.2006.009409

International Journal of Business Governance and Ethics, 2006 Vol.2 No.1/2, pp.64 - 83

Published online: 30 Mar 2006 *

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