Did Output Recover from the Asian Crisis?

WPIEA0482003 Image
Price:  $15.00

Author/Editor: Valerie Cerra, Sweta Chaman Saxena
Release Date: © March, 2003
ISBN : 978-1-45184-675-1
Stock #: WPIEA0482003
Stock Status: On back-order

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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.


Business cycles , Economic development , Financial crisis , International financial system , Investment

More publications in this series: Working Papers

More publications by: Valerie Cerra ; Sweta Chaman Saxena