Growth and Crisis in Transition: A Comparative Perspective

16 Pages Posted: 24 Jan 2011

See all articles by Fabrizio Coricelli

Fabrizio Coricelli

University of Siena - Department of Political and International Sciences ; Paris School of Economics (PSE); Centre for Economic Policy Research (CEPR)

Mathilde Maurel

Université Paris I Panthéon-Sorbonne - Centre Maison des Sciences Economiques

Date Written: January 18, 2011

Abstract

The paper provides an empirical analysis of the growth performance of transition countries in a comparative perspective, separating episodes of crises from those of growth. Performance is measured by the output response following recessions, by the capacity to rebound, as well as the depth and length of the crisis rather than average rates of growth that aggregate periods of recessions and periods of growth. Results highlight that the post-recession performance in Central and Eastern Europe resembles that of emerging and developing countries in the aftermath of banking and financial crises, often following significant liberalizations. In contrast, the post-crisis performance of CIS countries resembles the output response observed during episodes of civil wars, and remains significantly different from the normal response of an average market country. Moreover, performance depends on economic reforms and especially on the complementarities among different reforms.

Suggested Citation

Coricelli, Fabrizio and Maurel, Mathilde, Growth and Crisis in Transition: A Comparative Perspective (January 18, 2011). Review of International Economics, Vol. 19, Issue 1, pp. 49-64, 2011, Available at SSRN: https://ssrn.com/abstract=1745795 or http://dx.doi.org/10.1111/j.1467-9396.2010.00931.x

Fabrizio Coricelli (Contact Author)

University of Siena - Department of Political and International Sciences ( email )

Via Mattioli, 10
Siena, 53100
Italy

Paris School of Economics (PSE)

48 Boulevard Jourdan
Paris, 75014 75014
France

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Mathilde Maurel

Université Paris I Panthéon-Sorbonne - Centre Maison des Sciences Economiques ( email )

106/112 boulevard de l'Hopital
Paris Cedex 13, 75647
France

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