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How I learned to stop worrying and love the crisis

Jan Fidrmuc; Ariane Tichit

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 post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the severity... Full description

Year of Publication: 2012
Authors: Fidrmuc, Jan; Tichit, Ariane
Publisher: München : CESifo
Physical Description: Online-Ressource (PDF-Datei: 16 S., 412 KB)
Series: CESifo working paper / Fiscal Policy, Macroeconomics and Growth ; 3720
Language: English
Subjects: Wirtschaftskrise | Economic crisis | Übergangswirtschaft | Transitional economy | Wirtschaftsreform | Economic reform | Institutioneller Wandel | Institutional change | Demokratisierung | Democratization | Wirkungsanalyse | Impact analysis | Wirtschaftswachstum | Economic Growth | Transformationsstaaten | Transition economies
Classification: jel-O11; jel-O47; jel-P27
Type of Publication (narrower categories): Arbeitspapier
Working Paper
Graue Literatur
Non-commercial literature
Type of Publication: Book / Working Paper
Notes: Systemvoraussetzungen: Acrobat Reader
Title record from database: ECONIS - Online Catalogue of the ZBW
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Summary: 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 post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the severity of crisis has had a positive impact on the subsequent pace of economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover, translate into lower subsequent inflation. Crises thus appear to serve as catalysts of reform and institutional change and lead to better long-term economic performance. -- crisis ; transition ; growth ; inflation ; reform ; institutions
Item Description: Systemvoraussetzungen: Acrobat Reader
Physical Description: Online-Ressource (PDF-Datei: 16 S., 412 KB)

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