IMF Staff Papers, Volume 49, No. 2

IMF Staff Papers, July 11, 2002

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IMF Staff Papers, Volume 49, No. 2

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Bibliographic details

• Authors: Robert P Flood
• Published: July 11, 2002
• Series: IMF Staff Papers
• Volume: 49
• DOI: https://doi.org/10.5089/9781589061194.024

Overview

• Author: Robert P Flood
• Publication date: July 11, 2002
• Pages: 120
• Volume: 2002
• Issue: 003
• Series: IMF Staff Papers No. 2002/003
• DOI: https://doi.org/10.5089/9781589061194.024
• Stock No: SPIEA0022002
• ISBN: 9781589061194
• ISSN: 1020-7635

Research questions and scope

• Explores sources of the output collapse in Russia during transition.
• Develops a modified growth-accounting framework that incorporates changes in factor utilization typical of the transition process.
• Analyzes the behavior of real commodity prices over the 1862–1999 period.
• Examines whether average stocks of health and education are converging across countries and calculates the speed of their convergence using data from 84 countries for 1970–90.

Key findings

• Declines in factor inputs were important determinants of the output fall in Russia during transition.
• Declines in productivity were also important determinants of the output fall.
• The modified growth-accounting framework that takes into account changes in factor utilization is central to the analysis of the Russian output collapse.
• Real commodity prices are analyzed over the 1862–1999 period (study period explicitly stated).
• Convergence analysis of average stocks of health and education uses data from 84 countries for 1970–90.

Subjects and keywords

• Subject: Commodity prices, Education, Health, Human capital, Inflation, Labor, Prices
• Keywords: Africa, Commodity prices, Eastern Europe, education capital, exchange rate, Human capital, income risk, Inflation, interest rate, interest rate differential, optimal subsidy, SP, UIP deviation

Data and empirical coverage

• Commodity price behavior examined for the period 1862–1999.
• Convergence analysis uses data from 84 countries for 1970–90.

Formats and access

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IMF Staff Papers, Volume 49, No. 2 — Robert P Flood, July 11, 2002 (DOI: https://doi.org/10.5089/9781589061194.024).