Advanced Search
MyIDEAS: Login

Why Performance Differed Across Countries in the Recent Crisis. How Country Performance in the Recent Crisis Depended on Pre-crisis Conditions

Contents:

Author Info

  • Karl Aiginger

    (WIFO)

Abstract

The growth performance of countries proved to be very different during the recent crisis. We apply principal component analysis to derive a single ordinal indicator on growth performance and to analyse whether initial conditions of economies or structural characteristics can explain the differences in growth performance. As initial conditions at the start of the crisis we use fiscal situation, trade competitiveness, output and credit growth, as structural characteristics we test size, openness, share of sectors and per-capita income. The task has proved to be as difficult as expected as causality often works in two ways and policy variables have intervened, which themselves are dependent on the initial conditions and structural characteristics. The three indicators that end up as the best predictors for the depth of the crisis are correlated with one another and thus difficult to disentangle.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.wifo.ac.at/wwa/pubid/41203
File Function: Abstract
Download Restriction: no

Bibliographic Info

Paper provided by WIFO in its series WIFO Working Papers with number 387.

as in new window
Length: 22 pages
Date of creation: 08 Feb 2011
Date of revision:
Handle: RePEc:wfo:wpaper:y:2011:i:387

Contact details of provider:
Postal: Arsenal Object 20, A-1030 Wien
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC

Related research

Keywords:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Stijn Claessens & Giovanni Dell'Ariccia & Deniz Igan & Luc Laeven, 2010. "Cross-country experiences and policy implications from the global financial crisis," Economic Policy, CEPR & CES & MSH, vol. 25, pages 267-293, 04.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Jiri Mazurek, 2014. "Examination of European Union economic cohesion: A cluster analysis approach," Business and Economic Horizons (BEH), Prague Development Center, vol. 9(4), pages 8-17, January.
  2. Mazurek, Jiri, 2013. "A Comparison of GDP growth of European countries during 2008-2012 period from regional and other perspectives," MPRA Paper 51178, University Library of Munich, Germany.
  3. Karl Aiginger & Thomas Horvath & Helmut Mahringer, 2012. "Why Labor Market Response Differed in the Great Recession: The Impact of Institutions and Policy," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 3, pages 1-19, September.
  4. Fritz Breuss, 2013. "The Leverage of the Small Ones in the EU," WIFO Working Papers 452, WIFO.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:wfo:wpaper:y:2011:i:387. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.