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The Output Decline in the Aftermath of Reform
Mr.Eduardo BorenszteinMr.Dimitri G. DemekasMr.Jonathan David Ostry
其他書名
The Cases of Bulgaria, Czechoslovakia, and Romania
出版International Monetary Fund, 1992-07-01
主題Business & Economics / Exports & ImportsBusiness & Economics / Labor / GeneralBusiness & Economics / Industries / General
ISBN14519657109781451965711
URLhttp://books.google.com.hk/books?id=4o4YEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper analyzes the declines in economic activity experienced by Bulgaria, the Czech and Slovak Federal Republic (CSFR), and Romania in the period since the initiation of market-oriented reforms in these countries. The paper reviews developments in the three countries and empirically investigates two questions that are key to the interpretation of the output decline: First, to what extent does the output fall reflect “structural change” (or a reallocation of resources across sectors) rather than a conventional recession? Second, to what extent have demand-side or supply-side forces been dominant in generating the output decline?