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Rapid Growth in Transition Economies

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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; real gdp; per capita income; growth rates; growth rate; gdp growth; trade growth; commodity prices; gdp per capita; price liberalization; competition policy; transition countries; balance of payments; trade shocks; terms-of-trade shocks; gdp growth rate; export structure; import prices; brain drain; fixed capital formation; trade shock; total factor productivity; trade liberalization; foreign trade; export prices; industry trade; trading partners; rent-seeking ? behavior; political economy; external financing; international trade; business cycle dynamics; gdps; domestic savings; domestic banks; domestic prices; income convergence; economic growth rate; export growth; capital formation; world trade; business cycle; current account deficit; gross fixed capital formation; oil prices; multinational corporations; per capita economic growth; gdp deflator; gdp growth rates; tradable goods; per capita growth rate; dynamic gains; investment goods; economic cooperation; skilled workers; trade openness; rent-seeking behavior; regional economic growth; export earnings; partner country; output growth; trade gains;

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    References

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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. Melecky, Martin, 2010. "Macroeconomic Dynamics in Macedonia and Slovakia: Structural Estimation and Comparison," MPRA Paper 19863, University Library of Munich, Germany.
    3. 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.

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