This paper employs smooth transition models to investigate the GDP series of ten CEECs. Allowing for a transition in both trend and intercept we examine the response of GDP to reforms in CEECs. Our results indicate that in only a small of number of countries is there evidence to suggest that the impact of the reforms on long-run growth has been positive. In most cases there has been no significant impact of the transition on the trend growth rate. There also appears to be little difference in terms of the depth of recession, speed of adjustment and the impact of reforms on GDP growth depending upon whether a country adopted a gradual or a fast approach to reforms.
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Publisher Info
Paper provided by The Vienna Institute for International Economic Studies, wiiw in its series Working Papers with number
36.
Length: 33 pages Date of creation: Dec 2005 Date of revision: Publication status: Published as wiiw Working Paper, January 2006 Handle: RePEc:wii:wpaper:36
Find related papers by JEL classification: C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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