From Inflation to Growth: Eight Years of Transition
36 Pages Posted: 15 Feb 2006
Date Written: July 1998
This paper reexamines growth in transition using panel data to 1997. It suggests that output has been strongly affected by export market growth; that inflation has been associated with weaker output only above a threshold inflation rate; that structural reform has been associated with weaker output initially, but that it stimulates higher growth thereafter; and that rapid disinflation has been associated with output losses only in the presence of pegged exchange rates.
Keywords: Transition, growth, inflation, disinflation
JEL Classification: E31, F43, O40, P20
Suggested Citation: Suggested Citation