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Title: How I learned to stop worrying and love the crisis
Authors: Fidrmuc, J
Tichit, A
Keywords: Crisis;Transition;Growth;Inflation;Reform;Institutions
Issue Date: 2011
Publisher: Brunel University
Citation: Economics and Finance Working Paper, Brunel University, 11-05
Abstract: In this paper we investigate the effects of economic crises on the subsequent economic performance, economic liberalization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises in the early 1990s. We find that the severity of the crisis has a positive impact on the subsequent pace of economic reform and economic growth. The effect on institution change is more complicated: the crisis appears to cause an initial worsening of institutions followed by a subsequent improvement later on.
Appears in Collections:Economics and Finance
Dept of Economics and Finance Research Papers

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