## IMF Staff Papers, Volume 49, No. 2

_IMF Staff Papers, July 11, 2002_

## Source details

**Canonical URL:** [IMF Staff Papers, Volume 49, No. 2](https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-49-no-15682)

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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

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### 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.

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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).*

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_Source: https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-49-no-15682_