An Empirical Analysis of the Output Declines in Three Eastern European Countries

Borensztein, Eduardo; Demekas, Dimitri G.; Ostry, Jonathan D.

doi:10.2307/3867375

Cited by 64 publications

(24 citation statements)

References 10 publications

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“…(compare, for example, with Borensztein et al, 1993), recall that some of our measures are preferable to those normally used in other estimates, e.g., production is value-added and labor is quality-adjusted. At the same time, the difficulty of properly pricing outputs and inputs should not be underestimated.…”

Section: The Datamentioning

confidence: 98%

Productive Efficiency during Transition: Evidence from Bulgarian Panel Data

Jones

Klinedinst

Rock

1998

Journal of Comparative Economics

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Section: The Datamentioning

confidence: 98%

Productive Efficiency during Transition: Evidence from Bulgarian Panel Data

Jones

Klinedinst

Rock

1998

Journal of Comparative Economics

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“…They and others have argued that efficiency-increasing structural adjustment should result in a relative increase in output in those industries which have the lowest DRC, as in these sectors the domestic resource cost of one dollar of export revenues is lowest. In fact, there is no such relation, at least through 1991, using the Hughes and Hare (1991) data (Borensztein et al, 1993). The model in Appendix I can be used, however, to show that there is no necessary relationship between DRC and resource flow after liberalization.…”

Section: Supply-and-demand Vs Structural Adjustmentmentioning

confidence: 94%

“…35. Borensztein et al (1993) point out other problems with the Hughes and Hare (199t) methodology. 36.…”

Section: Notesmentioning

confidence: 96%

Supply and demand factors in the output decline in East and Central Europe

Berg

1994

Empirica

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Abstract. What are the relative weights of supply and demand factors in generating the output declines observed in Poland during its transition to the market? And how important are the factors that fit under the rubric of "supply and demand" in comparison to other potential reasons for the output decline, especially adjustment away from the Soviet-style economic system? The initial decline seems to have been due to a combination of aggregate demand shocks associated with the stabilization, declines in inventory investment due to the transition from a shortage economy, and especially shifts in demand away from socialized sector industry towards other sectors of the economy. Growth has come primarily from expansion in new sectors, such as services and residential construction, and in new enterprises. The applicability of one-good macroeconomics is limited in understanding either the output decline or the subsequent growth in Poland.

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“…As Borensztein et al (1993) note, this decline was occurring before communism ended, as well as in the ensuing transition. Our analysis indicates that the forces at work may have been more complicated than may initially be apparent.…”

Section: Proposition 2 Oligopolistic Sector Output Is Proportional Tmentioning

confidence: 99%

Macroeconomic equilibrium and reform in a transitional economy

Bennett

Dixon

1995

European Economic Review

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We build a general equilibrium macro model of a transitional economy to reflect four stylized facts. Among these are that central planning has left a legacy of highly concentrated industry and a residue of price controls and rationing. An 'almost' Classical Dichotomy obtains in the model: monetary expansion leaves output and employment unchanged (despite the existence of unemployment), though leisure time declines. However, the economy displays a high degree of complementarity between the state-controlled and private sectors, giving rise to Keynesian multiplier effects. We also analyse the effects of price-liberalization and privatization on the properties of the economy.

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An Empirical Analysis of the Output Declines in Three Eastern European Countries

Cited by 64 publications

References 10 publications

Productive Efficiency during Transition: Evidence from Bulgarian Panel Data

Productive Efficiency during Transition: Evidence from Bulgarian Panel Data

Supply and demand factors in the output decline in East and Central Europe

Macroeconomic equilibrium and reform in a transitional economy

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