Output Decline in Transition

Output Decline in Transition PDF Author: Mark De Broeck
Publisher:
ISBN:
Category :
Languages : en
Pages : 78

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Book Description
This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown in Kazakhstan and illustrates how excessive capital accumulation under central planning has contributed to the output decline. In addition, strong evidence is found that disorganization and inherited sectoral misallocation have played a significant role. Credit contractions and reductions in aggregate demand may have had an effect, but clear patterns of causality cannot be established.

Output Decline in Transition

Output Decline in Transition PDF Author: Mark De Broeck
Publisher:
ISBN:
Category :
Languages : en
Pages : 78

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Book Description
This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown in Kazakhstan and illustrates how excessive capital accumulation under central planning has contributed to the output decline. In addition, strong evidence is found that disorganization and inherited sectoral misallocation have played a significant role. Credit contractions and reductions in aggregate demand may have had an effect, but clear patterns of causality cannot be established.

Output Decline in Transition

Output Decline in Transition PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451974396
Category : Business & Economics
Languages : en
Pages : 79

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Book Description
This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown in Kazakhstan and illustrates how excessive capital accumulation under central planning has contributed to the output decline. In addition, strong evidence is found that disorganization and inherited sectoral misallocation have played a significant role. Credit contractions and reductions in aggregate demand may have had an effect, but clear patterns of causality cannot be established.

Causes of Output Decline in Economic Transition

Causes of Output Decline in Economic Transition PDF Author: Karen Macours
Publisher:
ISBN:
Category :
Languages : en
Pages : 70

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Book Description


Output Decline in Eastern Europe

Output Decline in Eastern Europe PDF Author: R. Holzmann
Publisher: Springer Science & Business Media
ISBN: 940110283X
Category : Political Science
Languages : en
Pages : 386

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Book Description
The first phase of transition to a market economy in Central and Eastern Europe was characterized by a sharp output decline. The fall in real GDP exceeded 20% while real industrial production decreased even by 40%. Output Decline in Eastern Europe aims at providing comprehensive, multi-factor explanations for this unique, painful experience. Various hypotheses are analyzed: credit and fiscal policies may have been too tight; the collapse of the CMEA and the USSR came as a shock; domestic producers were neither experienced, nor flexible enough to adjust the output to new patterns of demand. Output Decline in Eastern Europe contains a unique combination of authors from East and West who extensively analyze new data based on country studies. Understanding the causes of recent output decline, the subject matter of this volume may help to assess the prospects for Eastern Europe. The book is addressed to researchers and students as well as interested officials who deal with the transition of formerly centrally planned economies in Central and Eastern Europe.

The Evolution of Output in Transition Economies

The Evolution of Output in Transition Economies PDF Author: Mr.Eduardo Borensztein
Publisher: International Monetary Fund
ISBN: 1451849443
Category : Business & Economics
Languages : en
Pages : 82

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Book Description
What are the relative roles of macroeconomic variables, structural policies, and initial conditions in explaining the time path of output in transition and the large observed differences in output performance across transition economies? Using a sample of 26 countries, this paper follows a general-to-specific modeling approach that allows for differential effects of policies and initial conditions on the private and state sectors and for time-dependent effects of initial conditions. While showing some fragility to model specification, the results point to the preeminence of structural reforms over both initial conditions and macroeconomic variables in explaining cross-country differences in performance and the timing of the recovery.

Output Decline and Recovery in the Transition Economies

Output Decline and Recovery in the Transition Economies PDF Author: Paul Brenton
Publisher:
ISBN: 9789290792086
Category : Gross domestic product
Languages : en
Pages : 22

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Book Description


Output Decline and Government Expenditures in European Transition Economies

Output Decline and Government Expenditures in European Transition Economies PDF Author: Mr.Ke-young Chu
Publisher: International Monetary Fund
ISBN: 1451961065
Category : Business & Economics
Languages : en
Pages : 34

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Book Description
This paper discusses the role of government expenditure policies in the decline in aggregate output in European transition economies. It is argued that there is little evidence for the hypothesis that more expansionary expenditure policies would have helped to mitigate the output decline. While measurement problems allow for very preliminary conclusions, it appears that government expenditures were, generally, not a binding constraint for output. In those cases where it could be argued that government expenditures were a binding constraint, they were usually not the only one. Government expenditure levels still remain on the high side, at least when compared with European market-based economies, and there exists few reasons for pursuing expansionary expenditure policies to lift European transition economies out of the “transitional recession.” While raising expenditure levels per se is an unappealing policy choice, a further reordering of expenditure priorities is desirable. In particular, increases in the share of government expenditures on capital--human and physical--are needed to improve long-run output potential.

Price liberalization and output decline in transition

Price liberalization and output decline in transition PDF Author: Sašo Polanec
Publisher:
ISBN:
Category :
Languages : en
Pages : 33

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Book Description


TRANSITION AND THE OUTPUT FALL. WORKING PAPER #37.

TRANSITION AND THE OUTPUT FALL. WORKING PAPER #37. PDF Author: GERARD ROLAND & THIERRY VERDIER
Publisher:
ISBN:
Category :
Languages : en
Pages : 35

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Book Description


Output Decline and Government Expenditures in European Transition Economies

Output Decline and Government Expenditures in European Transition Economies PDF Author: Gerd Schwartz
Publisher:
ISBN:
Category :
Languages : en
Pages : 34

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Book Description
This paper discusses the role of government expenditure policies in the decline in aggregate output in European transition economies. It is argued that there is little evidence for the hypothesis that more expansionary expenditure policies would have helped to mitigate the output decline. While measurement problems allow for very preliminary conclusions, it appears that government expenditures were, generally, not a binding constraint for output. In those cases where it could be argued that government expenditures were a binding constraint, they were usually not the only one. Government expenditure levels still remain on the high side, at least when compared with European market-based economies, and there exists few reasons for pursuing expansionary expenditure policies to lift European transition economies out of the quot;transitional recession.quot; While raising expenditure levels per se is an unappealing policy choice, a further reordering of expenditure priorities is desirable. In particular, increases in the share of government expenditures on capital--human and physical--are needed to improve long-run output potential.