Did Output Recover from the Asian Crisis?

Author/Editor: Cerra, Valerie ; Saxena, Sweta Chaman
Publication Date: March 01, 2003
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Summary: This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly after the crisis, there is evidence of permanent losses in the levels of output in all of the countries studied.
Series: Working Paper No. 03/48
Subject(s): Production | Asia | Hong Kong SAR | Indonesia | Korea, Republic of | Malaysia | Philippines | Singapore | Thailand | Financial crisis | Investment | Business cycles | Hong Kong Special Administrative Region of China

Author's Keyword(s): Asia | Crisis | Business Cycles | Recovery | Hong Kong | Indonesia | Korea | Malaysia | Philippines | Singapore
Publication Date: March 01, 2003
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA0482003 Pages: 25
US$15.00 (Academic Rate:
US$15.00 )
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