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Rapid Growth in Transition Economies; Panel Regression Approach

  • Garbis Iradian
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    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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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=21173
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    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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    5. Prachi Mishra, 2006. "Emigration and Brain Drain; Evidence From the Caribbean," IMF Working Papers 06/25, International Monetary Fund.
    6. Abdul Abiad & Ashoka Mody & Susan Schadler & Daniel Leigh, 2007. "Growth in the Central and Eastern European Countries of the European Union," IMF Occasional Papers 252, International Monetary Fund.
    7. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May.
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    13. Stanley Fischer, 1993. "The Role of Macroeconomic Factors in Growth," NBER Working Papers 4565, National Bureau of Economic Research, Inc.
    14. Thorsten Beck & Luc Laeven, 2006. "Institution building and growth in transition economies," Journal of Economic Growth, Springer, vol. 11(2), pages 157-186, June.
    15. Stephen Turnovsky & Pradip Chattopadhyay, 1998. "Volatility and Growth in Developing Economies: Some Numerical Results and Empirical Evidence," Discussion Papers in Economics at the University of Washington 0055, Department of Economics at the University of Washington.
    16. Eicher, Theo S., 1999. "Trade, development and converging growth rates: Dynamic gains from trade reconsidered," Journal of International Economics, Elsevier, vol. 48(1), pages 179-198, June.
    17. Katerina Kalcheva & Nienke Oomes, 2007. "Diagnosing Dutch Disease; Does Russia Have the Symptoms?," IMF Working Papers 07/102, International Monetary Fund.
    18. William R. Hauk & Romain Wacziarg, 2004. "A Monte Carlo Study of Growth Regressions," NBER Technical Working Papers 0296, National Bureau of Economic Research, Inc.
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    20. Beck, Thorsten & Laeven, Luc, 2005. "Institution building and growth in transition economies," Policy Research Working Paper Series 3657, The World Bank.
    21. Campos, Nauro F & Coricelli, Fabrizio, 2002. "Growth in Transition: What we Know, What we Don't and What we Should," CEPR Discussion Papers 3246, C.E.P.R. Discussion Papers.
    22. Garbis Iradian, 2007. "Rapid Growth in Transition Economies; Growth-Accounting Approach," IMF Working Papers 07/164, International Monetary Fund.
    23. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
    24. Garbis Iradian, 2003. "Armenia; The Road to Sustained Rapid Growth-Cross-Country Evidence," IMF Working Papers 03/103, International Monetary Fund.
    25. Oleh Havrylyshyn & Ron van Rooden, 2003. "Institutions Matter in Transition, But So Do Policies," Comparative Economic Studies, Palgrave Macmillan, vol. 45(1), pages 2-24, March.
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    29. Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
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    33. repec:ner:tilbur:urn:nbn:nl:ui:12-4295080 is not listed on IDEAS
    34. Mendoza, Enrique G., 1997. "Terms-of-trade uncertainty and economic growth," Journal of Development Economics, Elsevier, vol. 54(2), pages 323-356, December.
    35. Marco Pani & Etibar Jafarov & Clinton R. Shiells, 2005. "Is Russia Still Driving Regional Economic Growth?," IMF Working Papers 05/192, International Monetary Fund.
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