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2013
- handle: 10670/1.ib6z0q
- halshs: halshs-00933607
Mots-clés
cerdi O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O11 - Macroeconomic Analyses of Economic Development O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence P - Economic Systems/P.P2 - Socialist Systems and Transitional Economies/P.P2.P27 - Performance and ProspectsSujets proches
Economic growth Growth, Economic Development, EconomicCiter ce document
Jan Fidrmuc et al., « How I learned to stop worrying and love the crisis », HAL-SHS : économie et finance, ID : 10670/1.ib6z0q
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Résumé
We investigate the effects of economic crises on the subsequent economic, performance, economic reform, democratization and institutional change. Our analysis is based on a sample of postcommunist countries, most of which experienced severe economic, crises during the 1990s. We find that the severity of crisis has a positive impact on the subsequent pace of economic reform, economic growth and, with a delay, on investment and institutional change. Episodes of high inflation, moreover, translate into lower subsequent inflation. Crises thus serve as catalysts of reform and institutional change and lead to better long-term economic performance.