From Inflation to Growth: Eight Years of Transition
IMF Working Papers, July 1, 1998
Source details
- Canonical URL
- From Inflation to Growth: Eight Years of Transition
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Bibliographic details
- Authors: Peter Doyle, Peter F. Christoffersen
- Published: July 1, 1998
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451852370.001
Summary
- Reexamines growth in transition using panel data to 1997.
- Main conclusions:
- Output has been strongly affected by export market growth.
- Inflation has been associated with weaker output only above a threshold inflation rate.
- Structural reform has been associated with weaker output initially, but stimulates higher growth thereafter.
- Rapid disinflation has been associated with output losses only in the presence of pegged exchange rates.
Key findings and empirical relationships
- Export market growth:
- Output is strongly affected by export market growth.
- Inflation and output:
- Inflation is associated with weaker output only above a threshold inflation rate.
- Structural reform and growth:
- Structural reform is associated with weaker output initially, but stimulates higher growth thereafter.
- Disinflation and exchange rate regime:
- Rapid disinflation is associated with output losses only when exchange rates are pegged.
Subjects and keywords
- Subjects: Disinflation, Export performance, Exports, Inflation, International trade, Macrostructural analysis, Prices, Structural reforms
- Keywords: Baltics, disinflation, disinflation dummy, disinflation episode, exchange rate, export, export market growth, Export performance, Exports, growth, inflation, inflation-output threshold, output, output loss, rate of inflation, sacrifice ratio, standard error, Structural reforms, Transition, WP
Content in this bundle
- From Inflation to Growth: Eight Years of Transition - WP/98/100