Crisis, Stabilization and Growth

Conway, Patrick

doi:10.1007/978-1-4615-1573-9

2001

DOI: 10.1007/978-1-4615-1573-9

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Crisis, Stabilization and Growth

Patrick Conway¹

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Cited by 5 publications

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Private Savings in Transition Economies: Are there Terms of Trade Shocks?

Chowdhury

2004

Comp Econ Stud

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Economic agents in the transition economies are subject to tight credit constraints, which are more pronounced during bad state of nature. Thus, adverse shocks to commodity prices in the world market can force them to reduce savings by a larger amount than they would otherwise have. Empirical analysis using a dynamic panel model and data from 21 transition economies confirm that most of the determinants of savings identified in the literature also apply to the transition economies. The transitory component in the terms of trade have a larger positive impact than the permanent component. This reflects the lack of access to foreign borrowing. Although the impact of terms of trade shocks is found to be asymmetric, the magnitude of the impact appears to be small. The results are robust for alternative estimators, determinants and country groupings.

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Private Savings in Transition Economies: Are there Terms of Trade Shocks?

Chowdhury

2004

Comp Econ Stud

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The Limits of Exchange Rate as Nominal Anchor: Evidence from the 1999-2005 Ukrainian Experience

Conway

2009

SSRN Journal

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Private Savings in Transition Economies: Are there Terms of Trade Shocks?

Chowdhury

2003

SSRN Journal

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Crisis, Stabilization and Growth

Cited by 5 publications

References 34 publications

Private Savings in Transition Economies: Are there Terms of Trade Shocks?

Private Savings in Transition Economies: Are there Terms of Trade Shocks?

The Limits of Exchange Rate as Nominal Anchor: Evidence from the 1999-2005 Ukrainian Experience

Private Savings in Transition Economies: Are there Terms of Trade Shocks?

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