From Inflation to Growth: Eight Years of Transition

Peter Doyle and Peter Christoffersen

No 1998/100, IMF Working Papers from International Monetary Fund

Abstract: This paper reexamines growth in transition using panel data to 1997. It suggests that output has been strongly affected by export market growth; that inflation has been associated with weaker output only above a threshold inflation rate; that structural reform has been associated with weaker output initially, but that it stimulates higher growth thereafter; and that rapid disinflation has been associated with output losses only in the presence of pegged exchange rates.

Keywords: WP; exchange rate; export; output; Transition; growth; inflation; disinflation; disinflation dummy; export market growth; rate of inflation; inflation-output threshold; output loss; disinflation episode; sacrifice ratio; standard error; Exports; Export performance; Structural reforms; Baltics (search for similar items in EconPapers)
Pages: 36
Date: 1998-07-01
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Citations: View citations in EconPapers (43)

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