The economic realities of Southeast Europe changed, once again, in the 1990s. The joy of independence was followed by the grim reality of loss of productivity due to turmoil. All five countries studied in this paper experienced real loss of standard of living immediately after declaration of independence. In some cases, such as Albania and Hungary, the decline was short-lived. In other cases, especially in Yugoslavia and to some extent in Bulgaria, the recovery was ongoing as of 2006. The growth trends of real GDPs before and after the collapse of communism are examined via spline trend analysis to determine if the patterns have changed. Furthermore, the structural stability of the trends of each country are tested.
Democracy and Economic Growth: The Experience in Southeast Europe
SERGI, Bruno Sergio;
2008-01-01
Abstract
The economic realities of Southeast Europe changed, once again, in the 1990s. The joy of independence was followed by the grim reality of loss of productivity due to turmoil. All five countries studied in this paper experienced real loss of standard of living immediately after declaration of independence. In some cases, such as Albania and Hungary, the decline was short-lived. In other cases, especially in Yugoslavia and to some extent in Bulgaria, the recovery was ongoing as of 2006. The growth trends of real GDPs before and after the collapse of communism are examined via spline trend analysis to determine if the patterns have changed. Furthermore, the structural stability of the trends of each country are tested.Pubblicazioni consigliate
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
