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The relationship between policies and growth in transition countries

Lookup NU author(s): Dr Roxana Radulescu, Dr David Barlow

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Abstract

This paper combines Hendry's general to specific procedure and Learner's Extreme Bounds analysis to assess the robustness of the relationship between growth in transition countries and a set of variables included in other studies. The results indicate a robust relationship between inflation and growth. A significant long-term effect of liberalization on growth is not found, which throws doubt on previous empirical studies of the relationship between liberalization and growth. However, the long-term benefits from liberalization may be indirect, via macro stability. Robustness tests also throw doubt on the effect of fiscal and exchange rate policies on growth.

Publication metadata

Author(s): Radulescu R; Barlow D

Publication type: Article

Publication status: Published

Journal: Economics of Transition

Year: 2002

Volume: 10

Issue: 3

Pages: 719-745

ISSN (print): 0967-0750

ISSN (electronic): 1468-0351

Publisher: Wiley-Blackwell Publishing Ltd.

URL: http://dx.doi.org/10.1111/1468-0351.t01-1-00131

DOI: 10.1111/1468-0351.t01-1-00131

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