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Rapid Growth in Transition Economies: Panel Regression Approach

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  • Garbis Iradian
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    Abstract

    This paper analytically explores and empirically tests a number of hypotheses to explain the rapid growth in transition economies. The paper finds that growth in the Commonwealth of Independent States (CIS) has been higher because of the recovery of lost output, progress in macroeconomic stabilization and market reforms, and favorable external conditions. Some of these factors are unlikely to continue for a very long time. The challenge is to improve the investment climate in the non-primary sectors, which will require broadening the scope of macroeconomic reform into a second generation of reforms encompassing structural and institutional areas.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 07/170.

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    Length: 42
    Date of creation: 01 Jul 2007
    Date of revision:
    Handle: RePEc:imf:imfwpa:07/170

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    Related research

    Keywords: Terms of trade; Transition economies; Economic growth; Economic reforms; Workers remittances;

    This paper has been announced in the following NEP Reports:

    References

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    8. Easterly, William & Loayza, Norman & Montiel, Peter, 1997. "Has Latin America's post-reform growth been disappointing?," Journal of International Economics, Elsevier, vol. 43(3-4), pages 287-311, November.
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    32. Garbis Iradian, 2003. "Armenia: The Road to Sustained Rapid Growth-Cross-Country Evidence," IMF Working Papers 03/103, International Monetary Fund.
    33. Ratna Sahay & Jeromin Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies - Explaining the Differences," IMF Working Papers 99/73, International Monetary Fund.
    34. repec:ner:tilbur:urn:nbn:nl:ui:12-3508412 is not listed on IDEAS
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    Cited by:
    1. Martin Melecky & Evgenij Najdov, 2010. "Comparing constraints to economic stabilization in Macedonia and Slovakia: macroestimates with micronarratives," Applied Financial Economics, Taylor & Francis Journals, vol. 20(9), pages 681-699.
    2. Uwe B�wer & Alessandro Turrini, 2009. "EU accession: A road to fast-track convergence?," European Economy - Economic Papers 393, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    3. Melecky, Martin, 2010. "Macroeconomic Dynamics in Macedonia and Slovakia: Structural Estimation and Comparison," MPRA Paper 19863, University Library of Munich, Germany.

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