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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 economics? Using a sample of 26 countries, this paper follows a...
Persistent link: https://www.econbiz.de/10014179642
Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances, unless the right incentives are in place to promote...
Persistent link: https://www.econbiz.de/10013102260
Countries in Transition, ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined … the Arab Spring and based on cross-country experience, this paper concludes that sustainable and inclusive growth calls … for a two pronged approach: short term measures that revive growth momentum and partially allay popular concerns …
Persistent link: https://www.econbiz.de/10013048367
This paper analyzes the relationship between fiscal adjustment and real GDP growth in a panel of 26 transition … statistically significant relationship between fiscal adjustment and growth that is robust to different model specifications and …
Persistent link: https://www.econbiz.de/10012779094
risk of conflict recurrence as an explanatory variable in the growth regression, because post-conflict countries have a …
Persistent link: https://www.econbiz.de/10013085981
This paper reexamines growth in transition using panel data to 1997. It suggests that output has been strongly affected … by export market growth; that inflation has been associated with weaker output only above a threshold inflation rate …; that structural reform has been associated with weaker output initially, but that it stimulates higher growth thereafter …
Persistent link: https://www.econbiz.de/10013212115
then engages in a numerical, somewhat speculative, exercise to assess the long-run growth potential of the transition …
Persistent link: https://www.econbiz.de/10013212117
We revisit Lipset's law, which posits a positive and significant relationship between income and democracy. Using … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …
Persistent link: https://www.econbiz.de/10013086006
80 presidential and parliamentary democracies between 1975 and2012, we find that the rate of growth of public investment … is higher at the beginning of electoral cycles and decelerates thereafter. The peak in public investment growth occurs …
Persistent link: https://www.econbiz.de/10013015609
The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A...
Persistent link: https://www.econbiz.de/10013051917