From transition to market: Evidence and growth prospects

Fischer, Stanley and Sahay, Ratna and Vegh, Carlos (1998): From transition to market: Evidence and growth prospects.

Abstract

This paper presents evidence on the behavior of output and inflation in the transition economies during 1992-95. A regression analysis explores the differences in output performance across the transition economies during this period. The paper then engages in a numerical, somewhat speculative, exercise to assess the long-run growth potential ofthe transition economies. It concludes that it should take about 20 years for the faster reformers to reach current OECD per capita levels.

• Item Type: MPRA Paper
• Language: English
• Keywords: Transition, growth, Eastern Europe, output, inflation
• Subjects: P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P20 - General; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies

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