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Author Sahay, Ratna.

Title The Evolution of Output in Transition Economies [electronic resource] : Explaining the Differences / Ratna Sahay.

Published Washington, D.C. : International Monetary Fund, 1999.


Location Call No. Status
Physical description 1 online resource (81 p.)
Series IMF Working Papers; Working Paper ; No. 99/73
IMF Working Papers; Working Paper ; No. 99/73
Summary What are the relative roles of macroeconomic variables, structural policies, and initial conditions in explaining the time path of output in transition and the large observed differences in output performance across transition economies? Using a sample of 26 countries, this paper follows a general-to-specific modeling approach that allows for differential effects of policies and initial conditions on the private and state sectors and for time-dependent effects of initial conditions. While showing some fragility to model specification, the results point to the preeminence of structural reforms over both initial conditions and macroeconomic variables in explaining cross-country differences in performance and the timing of the recovery.
Notes Description based on print version record.
Other author Berg, Andrew.
Borensztein, Eduardo.
Sahay, Ratna.
Zettelmeyer, Jeronimo.
Subject Correlation
Internal Liberalization
Output Decline
Output Growth
ISBN 1451849443 : 15.00 USD
ISSN 1018-5941
Standard Number 10.5089/9781451849448.001