Growth Dynamics: The Myth of Economic Recovery: Comment
American Economic Review, 2012, vol. 102, issue 7, 3774-77
This comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil war leads to a loss in output of 18 percent. This makes civil wars more devastating than all other crisis studied by CS.
JEL-codes: E23 E32 O47 (search for similar items in EconPapers)
Note: DOI: 10.1257/aer.102.7.3774
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