Growth Experience in Ukraine during Twenty Years of Independence: Business Cycle Accounting Perspective
This paper studies the macroeconomic performance of Ukraine since 1991. During last twenty years, Ukraine experienced three episodes of prolonged recessions. The project uses business cycle accounting methodology developed by Chari et al. (2007) to identify driving forces behind economic downturns and growth episodes experienced in recent years. Ukrainian government needs to develop policies for sustainable growth. The research project studies this issue in two dimensions. First, the analysis within a general equilibrium framework identifies distortions which are the most harmful to the economic growth and will help to design future policies. Secondly, the wedges estimated from the data take into account not only legislatively declared taxes, for example, labor income taxes, but also incorporate institutional distortions in the labor market such as hiring and firing costs, expenditures associated with regulations’ compliance. We also estimate the contribution of each wedge to each crisis episode and to subsequent recovery.
|Date of creation:||09 Apr 2014|
|Contact details of provider:|| Postal: EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine|
Web page: http://www.eercnetwork.com
|Order Information:|| Postal: EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine|
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- Davide Furceri & Aleksandra Zdzienicka, 2011.
"The real effect of financial crises in the European transition economies,"
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- Dooyeon Cho & Antonio Doblas-Madrid, 2013. "Business Cycle Accounting East and West: Asian Finance and the Investment Wedge," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(4), pages 724-744, October.
- Dooyeon Cho & Antonio Doblas-Madrid, 2012. "Online Appendix to "Business Cycle Accounting East and West: Asian Finance and the Investment Wedge," Technical Appendices 10-51, Review of Economic Dynamics.
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- Felipe Meza, 2008. "Financial Crisis, Fiscal Policy, and the 1995 GDP Contraction in Mexico," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(6), pages 1239-1261, 09. Full references (including those not matched with items on IDEAS)
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