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dc.contributor.authorBerg, Andrewen
dc.contributor.authorPapageorgiou, Chrisen
dc.contributor.authorPattillo, Catherineen
dc.contributor.authorSpatafora, Nicolaen
dc.date.accessioned2011-10-28-
dc.date.accessioned2011-11-01T12:53:37Z-
dc.date.available2011-11-01T12:53:37Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/50806-
dc.description.abstractThis paper investigates the medium- and long-term growth effects of the global financial crises on Low-Income Countries (LICs). Using several methodological approaches, including impulse response function analysis, growth spells techniques and panel regressions, we show that external demand (ED) shocks are not historically associated with sharp declines in output growth. Given existing evidence that LICs were primarily impacted by such a shock in the global financial crisis, our analysis provides some optimism on the chances that LICs will avoid a protracted period of slow growth. However, we also show that there seem to be persistent output losses associated with ED shocks in the medium-run. In terms of policy implications, our analysis provides evidence that countries with lower deficits, lower debt, more flexible exchange rate regimes, and a higher stock of international reserves are more likely to dampen the effects of an ED shock on growth.en
dc.language.isoengen
dc.publisher|aLeibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO) |cHalle (Saale)en
dc.relation.ispartofseries|aIAMO Forum 2011, Halle (Saale), June 23 - 24, 2011: Will the 'BRICs Decade' continue? – Prospects for trade and growthen
dc.subject.jelO11en
dc.subject.jelO19en
dc.subject.jelO23en
dc.subject.jelO47en
dc.subject.ddc330en
dc.subject.keywordGlobal financial crisisen
dc.subject.keywordexternal shocksen
dc.subject.keywordlow-income countriesen
dc.subject.keywordmedium- and long-term growthen
dc.subject.keywordimpulse response functionsen
dc.subject.keywordgrowth spellsen
dc.subject.keywordpanel growth regressionsen
dc.titleThe end of an era? The medium- and long-term effects of the global crisis on growth in low-income countries-
dc.typeConference Paperen
dc.identifier.ppn670817929en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:iamo11:25en

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