To What Extent Does Convergence Explain the Slowdown in Potential Growth of the CEE Countries following the Global Financial Crisis?

被引：2

作者：

Stefanski, Maciej ^{[1
]}

机构：

[1] SGH Warsaw Sch Econ, Dept Quantitat Econ, Warsaw, Poland

来源：

EASTERN EUROPEAN ECONOMICS | 2021年 / 59卷 / 03期

关键词：

Convergence; potential growth; decomposition; TFP; investment; CEE;

D O I：

10.1080/00128775.2021.1883443

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The paper estimates a simple growth model with time-varying cross-country fixed effects on a panel of high-income countries and decomposes changes in potential growth into convergence, movements in the steady-state determinants, global TFP growth and labor force growth in order to investigate the sources of potential growth slowdown in CEE following the global financial crisis. Convergence is found to explain about 40% of the slowdown, the other main drivers being falling investment to GDP ratio and the TFP component.

引用

页码：199 / 224

页数：26

共 3 条

[1] The Impact Of The Global Financial And Economic Crisis On The Convergence Process In OECD Countries
Greta, Marianna
Lewandowski, Krzysztof
COMPARATIVE ECONOMIC RESEARCH-CENTRAL AND EASTERN EUROPE, 2015, 18 (01): : 81 - 96
[2] What happened to the world's potential growth after the 2008-2009 global financial crisis?
Felipe, Jesus
Estrada, Gemma
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, 2020, 56
[3] Flexibility of Adjustment to Shocks: Economic Growth and Volatility of Middle-Income Countries Before and After the Global Financial Crisis of 2008
Aizenman, Joshua
Jinjarak, Yothin
Estrada, Gemma
Tian, Shu
EMERGING MARKETS FINANCE AND TRADE, 2018, 54 (05) : 1112 - 1131

← 1 →