The paper estimates institutional efficiency of a sample of EU and OECD countries. We employ an output-oriented Data Envelopment Analysis (DEA-like) approach where six Worldwide Governance Indicators published by the World Bank in 2009 constitute a vector of outputs. Assuming that all countries...

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The paper deals with the problem of government failure in a market economy, with special regard to transition economies. It starts from a wider concept of social forces. It criticizes a narrowed view of transition, typical for transition scenarios, limited only to mainstream economics and not...