Did Output Recover From the Asian Crisis?

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly after the crisis, there is evidence of permanent losses in the levels of output in all of the countries studied.

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Year of publication:	2003-03-01
Authors:	Cerra, Valerie ; Saxena, Sweta Chaman
Institutions:	International Monetary Fund (IMF)
Subject:	Asia \| Production \| Hong Kong SAR \| recessions \| asian crisis \| recession \| probability \| probabilities \| financial crisis \| statistics \| equation \| forecasting \| asian financial crisis \| standard errors \| econometrics \| banking crises \| univariate analysis \| pre-crisis \| time series \| statistical significance \| contagion \| time series analysis \| currency crisis \| financial crises \| prudential regulation \| statistic \| covariance \| banking crisis \| sampling \| linear models \| crisis recovery \| probability model \| significance level \| debt crisis \| nonlinear models \| simultaneous equation

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Working Papers Number 03/48 2 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005604941