ytheseeightoutoftransitioncountrieswereacknowledgedasfunctioningmarketeconomiesbyEUstandardsandbecamecandidatesforentryin.Secondly,transitionbroughtafundamentalbreakinthewayinwhicheconomiesfunctionandthetransitionperiodinthenarrowsenseshouldnotbeincludedinthesample.WithbothrestrictionswegetamuchnarrowersetoftransitioncountriesthantheoneusedbyCamposandKinoshita().Letusbeginbyexploringtimeseriesdataforeachcountry,andcross-sectiondataforeachyearbyobservingsimplerelationshipsbetweenthegrowthofgrossdomesticproduct(rGDP),andtheratioofforeigndirectinvestmentandgrossdomesticproduct(FDI),thelatterrepresentingalsoakindof‘revealed’liberalizationofcapitalaccount.TheaverageFDIinthe–periodwas.percentrangingbetween.percentinEstoniaand.percentinSlovenia,whilethegrowthofGDPby.percentayearwasrangingbetween.percentinPolandand.percentinCzechRepublic集起来意味着对每个截面单位或每个国家有着相同结构,但如果不在这种情况下,我们会得出不一致估计。