From Transition to Market: Evidence and Growth Prospects

Ratna Sahay, Stanley Fischer and Carlos Végh Gramont

No 1998/052, IMF Working Papers from International Monetary Fund

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 of the transition economies. It concludes that it should take about 20 years for the faster reformers to reach current OECD per capita levels.

Keywords: WP; transition economy; inflation regression; fiscal policy; transition; growth; government consumption; inflation profile; inflation stabilization; inflation performance; inflation country; Inflation; Exchange rate arrangements; Government consumption; Population growth; Conventional peg; Eastern Europe; Baltics (search for similar items in EconPapers)
Pages: 36
Date: 1998-04-01
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Citations: View citations in EconPapers (37)

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