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Rapid Growth in Transition Economies: Panel Regression Approach

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

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Length: 42 pages
Date of creation: 18 Jul 2007
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Handle: RePEc:imf:imfwpa:07/170

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

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  30. Ralph Chami & Samir Jahjah & Connel Fullenkamp, 2003. "Are Immigrant Remittance Flows a Source of Capital for Development," IMF Working Papers 03/189, International Monetary Fund. [Downloadable!]
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  1. Melecky, Martin & Najdov, Evgenij, 2008. "Comparing constraints to economic stabilization in Macedonia and Slovakia: macro estimates with micro narratives," Policy Research Working Paper Series 4691, The World Bank. [Downloadable!]
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