Did Output Recover From the Asian Crisis?
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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:
Asia Business cycles Financial crisis Hong Kong Special Administrative Region of China Indonesia International financial markets Investment Korea, Republic of Malaysia Philippines Singapore Thailand
English
Publication Date:
March 1, 2003
ISBN/ISSN:
9781451846751/1018-5941
Stock No:
WPIEA0482003
Format:
Paper
Pages:
26
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