reforms are analysed. -- institutions ; transition ; capture ; club goods …The paper explores a phenomenon often observed in transition economies, when newly established institutions are misused … incidences institutions become sources of private gains and lose their value-creation role and capacity. We offer a typology of …

The paper explores a phenomenon often observed in transition economies, when newly established institutions are misused … incidences institutions become sources of private gains and lose their value-creation role and capacity. We offer a typology of … institutional misuse (illustrated by examples from Russian transition), discuss its consequences, and explore reasons why …

paper, we argue that they may also serve to discourage outside influence or capture by raising its cost. As such, committees … corruptible. We also show that keeping committee members anonymous and accountable for their votes can help deter capture …

work effectively. However, a culture of accountability can be built overtime when adequate institutions and incentives are …

interest rates to boost labor demand. A government of a transition economy may postpone bank privatization to keep credit … provision under control, as long as inefficiencies of state ownership are not prohibitive. We model a transition economy where …