Growth Dynamics: The Myth of Economic Recovery: Comment
This comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil war leads to a loss in output of 18 percent. This makes civil wars more devastating than all other crisis studied by CS.
Volume (Year): 102 (2012)
Issue (Month): 7 (December)
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