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From Stabilization to Growth

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  • Rudiger Dornbusch

Abstract

The 1980s were a lost decade for Latin America, will the 1990s also be lost? For some countries stabilization has not even started. In other countries the stabilization accomplishments remain tentative and vulnerable. And even those countries that have established firmly a new path for their economic management are still waiting for economic growth to return. The hardest part of stabilization is the transition to growth. Even with major adjustment efforts in place, growth does not resume spontaneously. If the lack of recovery is due to a coordination failure than market forces cannot resolve the difficulty, a mechanism must be found to bring about the coordination.

Suggested Citation

  • Rudiger Dornbusch, 1990. "From Stabilization to Growth," NBER Working Papers 3302, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:3302
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    1. Van Wijnbergen, Sweder, 1985. "Trade reform, aggregate investment and capital flight : On credibility and the value of information," Economics Letters, Elsevier, vol. 19(4), pages 369-372.
    2. Rudiger Dornbusch, 1988. "Notes on Credibility and Stabilization," NBER Working Papers 2790, National Bureau of Economic Research, Inc.
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