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Article dans une revue Economic Systems Année : 2013

How I learned to stop worrying and love the crisis

Résumé

We investigate the effects of economic crises on the subsequent economic, performance, economic reform, democratization and institutional change. Our analysis is based on a sample of postcommunist countries, most of which experienced severe economic, crises during the 1990s. We find that the severity of crisis has a positive impact on the subsequent pace of economic reform, economic growth and, with a delay, on investment and institutional change. Episodes of high inflation, moreover, translate into lower subsequent inflation. Crises thus serve as catalysts of reform and institutional change and lead to better long-term economic performance.

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Dates et versions

halshs-00933607, version 1 (20-01-2014)

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  • HAL Id : halshs-00933607 , version 1

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Jan Fidrmuc, Ariane Tichit. How I learned to stop worrying and love the crisis. Economic Systems, 2013, 37, pp.542-554. ⟨halshs-00933607⟩
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