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time and/or countries. We demonstrate this argument by identifying structural breaks in growth regressions estimated with …-oriented reforms. We find robust evidence that the pattern of growth in transition has changed at least two times, yielding thus three … different models of growth associated with different stages of reform. The speed with which individual countries progress …
Persistent link: https://www.econbiz.de/10005677568
Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003–2007 using the Levinsohn and Petrin (2003) and Wooldridge (2009) approaches, correcting for the measurement error in capital. We show that measurement error plays a significant role in the...
Persistent link: https://www.econbiz.de/10010545918
Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003–2007 using the Levinsohn and Petrin (2003) and Wooldridge (2009) approaches, correcting for the measurement error in capital. We show that measurement error plays a significant role in the...
Persistent link: https://www.econbiz.de/10010552178
Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we analyze recent developments in the volatility of exchange rates of the Central European countries (the Visegrad Group) and a selected group of European Union countries (the...
Persistent link: https://www.econbiz.de/10005207889
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollareuro exchange rate on...
Persistent link: https://www.econbiz.de/10008529003
This paper aims to investigate the demand for money in Kazakhstan. This study covers the period starting from 2000:01, when capital liberalization program was launched and National Bank approved managed float regime (National Bank employed adjustable exchange rate regime before exchange rate...
Persistent link: https://www.econbiz.de/10008529014
This paper attempts to analyze the direct impact of exchange rate volatility on the export performance of ten Central and Eastern European transition economies as well as its indirect impact via changes in exchange rate regimes. Not only aggregate but also bilateral and sectoral export ows are...
Persistent link: https://www.econbiz.de/10005784721
income countries, reach strong, sustained and shared growth in the post-crisis world. The paper first reviews, with a special … predominated prior to the crisis towards growth. Fiscal policy is key in this regard, through public outlays on infrastructure …
Persistent link: https://www.econbiz.de/10010545913
Replication of two recent studies of growth determinants shows that results are sensitive to the choice of data from … which growth rates are calculated, especially with respect to whether economic convergence has occurred. Previous warnings … (growth rates) have been largely ignored at the cost of possibly contaminating the conclusions. …
Persistent link: https://www.econbiz.de/10005677664
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon …. Replication of several recent studies of growth determinants shows that results are sensitive in important ways to the choice of …-country patterns over time (growth rates) have been largely ignored at the cost of possibly contaminating the conclusions. …
Persistent link: https://www.econbiz.de/10005677713