{
  "title": "From Inflation to Growth: Eight Years of Transition",
  "publication": "IMF Working Papers, July 1, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675",
  "overlayPath": "/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/index.md",
  "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",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Reexamines growth in transition using panel data to 1997.\n- Main conclusions:\n  - Output has been strongly affected by export market growth.\n  - Inflation has been associated with weaker output only above a threshold inflation rate.\n  - Structural reform has been associated with weaker output initially, but stimulates higher growth thereafter.\n  - Rapid disinflation has been associated with output losses only in the presence of pegged exchange rates."
    },
    {
      "heading": "Key findings and empirical relationships",
      "content": "- Export market growth:\n  - Output is strongly affected by export market growth.\n- Inflation and output:\n  - Inflation is associated with weaker output only above a threshold inflation rate.\n- Structural reform and growth:\n  - Structural reform is associated with weaker output initially, but stimulates higher growth thereafter.\n- Disinflation and exchange rate regime:\n  - Rapid disinflation is associated with output losses only when exchange rates are pegged."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Disinflation, Export performance, Exports, Inflation, International trade, Macrostructural analysis, Prices, Structural reforms\n- 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\n\n---\n\n Content in this bundle\n\n- From Inflation to Growth: Eight Years of Transition - WP/98/100\n  - From Inflation to Growth: Eight Years of Transition - WP/98/100 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - From Inflation to Growth: Eight Years of Transition - WP/98/100 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/bundle-manifest.json)",
    "Authors: Peter Doyle, Peter F. Christoffersen",
    "Published: July 1, 1998",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451852370.001",
    "Reexamines growth in transition using panel data to 1997.",
    "Main conclusions:",
    "Export market growth:",
    "Inflation and output:",
    "Structural reform and growth:",
    "Disinflation and exchange rate regime:",
    "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",
    "**From Inflation to Growth: Eight Years of Transition - WP/98/100**"
  ],
  "related": [
    {
      "title": "From Inflation to Growth: Eight Years of Transition - WP/98/100",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/_wp98100.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/_wp98100.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/_wp98100.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/index.md",
    "json": "/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/30/from-inflation-to-growth-eight-years-of-transition-2675/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T06:29:51.590Z"
}