From Inflation to Growth: Eight Years of Transition
July 1, 1998
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Summary
This paper reexamines growth in transition using panel data to 1997. It suggests that output has been strongly affected by export market growth; that inflation has been associated with weaker output only above a threshold inflation rate; that structural reform has been associated with weaker output initially, but that it stimulates higher growth thereafter; and that rapid disinflation has been associated with output losses only in the presence of pegged exchange rates.
Subject: 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
Pages:
36
Volume:
1998
DOI:
Issue:
100
Series:
Working Paper No. 1998/100
Stock No:
WPIEA1001998
ISBN:
9781451852370
ISSN:
1018-5941
