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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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    File URL: http://www.nber.org/papers/w3302.pdf
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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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    Cited by:

    1. Nina Dodig & Hansjorg Herr, 2014. "Previous financial crises leading to stagnation – selected case studies," Working papers wpaper24, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    2. Culagovski, Jorge & Gabor, Victor & Germany, Maria Cristina & Humphreys, Charles P., 1991. "African financing needs in the 1990s," Policy Research Working Paper Series 764, The World Bank.
    3. Pastor, Manuel Jr. & Conroy, Michael E., 1995. "Distributional implications of macroeconomic policy: Theory and applications to El Salvador," World Development, Elsevier, vol. 23(12), pages 2117-2131, December.
    4. Solimano, Andres, 1991. "Inflation and growth in the transition from socialism : the case of Bulgaria," Policy Research Working Paper Series 659, The World Bank.
    5. Sebastian Edwards, 1994. "Trade and Industrial Policy Reform in Latin America," NBER Working Papers 4772, National Bureau of Economic Research, Inc.
    6. Lopez, Ramon, 1991. "Microeconomic distortions : static losses and their effect on the efficiency of investment," Policy Research Working Paper Series 665, The World Bank.
    7. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.

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