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Did Output Recover from the Asian Crisis?

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  • Did Output Recover from the Asian Crisis?
  • Cerra, Valerie; Saxena, Sweta Chaman
  • International Monetary Fund (IMF)


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Title Did Output Recover from the Asian Crisis?
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Material Type Reports
Author(English)

Cerra, Valerie; Saxena, Sweta Chaman

Publisher

International Monetary Fund (IMF)

Date 2003
Pages 25
Language English
File Type Link
Subject Economy < General

Abstract

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly after the crisis, there is evidence of permanent losses in the levels of output in all of the countries studied.