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We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization … 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 …
Persistent link: https://www.econbiz.de/10009645638
Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be … driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of …
Persistent link: https://www.econbiz.de/10009651184