## From Transition to Market: Evidence and Growth Prospects

_IMF Working Papers, April 1, 1998_

## Source details

**Canonical URL:** [From Transition to Market: Evidence and Growth Prospects](https://www.imf.org/en/publications/wp/issues/2016/12/30/from-transition-to-market-evidence-and-growth-prospects-2549)

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## Bibliographic details
- Authors: Ratna Sahay, Stanley Fischer, Carlos A. Végh Gramont
- Published: April 1, 1998
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451847222.001

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### Scope and methods
- Examines the behavior of output and inflation in the transition economies during 1992–95.
- Uses regression analysis to explore differences in output performance across the transition economies during 1992–95.
- Conducts a numerical, somewhat speculative, exercise to assess the long-run growth potential of the transition economies.

### Main findings and conclusions
- Evidence covers output and inflation dynamics for the transition economies in the period 1992–95.
- Regression analysis identifies cross-country differences in output performance during 1992–95 (methodological focus; specific regression results are contained in the full paper).
- Numerical exercise conclusion: "it should take about 20 years for the faster reformers to reach current OECD per capita levels."

### Analytical emphasis
- The paper juxtaposes short-run behavior (1992–95) of output and inflation with a long-run growth projection based on reform speed and convergence dynamics.
- Characterizes the long-run simulation as "somewhat speculative," indicating caution in interpreting projections.

### Subjects and keywords (as listed)
- Subject: Conventional peg, Exchange rate arrangements, Foreign exchange, Government consumption, Inflation, National accounts, Population and demographics, Population growth, Prices
- Keywords: Baltics, Conventional peg, Eastern Europe, Exchange rate arrangements, fiscal policy, government consumption, Government consumption, growth, Inflation, inflation country, inflation performance, inflation profile, inflation regression, inflation stabilization, Population growth, transition, transition economy, WP

*Source: IMF Working Paper "From Transition to Market: Evidence and Growth Prospects" (Working Paper No. 1998/052), Ratna Sahay, Stanley Fischer, Carlos A. Végh Gramont, April 1, 1998.*

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/from-transition-to-market-evidence-and-growth-prospects-2549_