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Short and long run growth effects of financial crises

Andersson, Fredrik N G LU orcid and Karpestam, Peter LU (2014)
Abstract
Growth theory predicts that poor countries will grow faster than rich countries. Yet, growth in developing countries has been consistently lower than growth in developed countries. The poor economic performance of developing countries coincides with both long-lasting and short-lived financial crises. In this paper, we analyze to what extent financial crises can explain low growth rates in developing countries. We distinguish between inflation, currency, banking, debt, and stock-market crises and separate the short- and long-run effects of them. Our results show that financial crises have reduced growth and that the policy decisions have caused them to be worsened and/or extended.
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author
and
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
growth, financial crisis, developing countries, short run, long run
host publication
Wavelet Applications in Economics and Finance
editor
Gallegati, Marco and Semmler, Willi
publisher
Springer
ISBN
978-3-319-07060-5
language
English
LU publication?
yes
id
46d23883-125d-4fcb-9f14-7820ff4377df (old id 4419905)
date added to LUP
2016-04-04 11:36:49
date last changed
2018-11-21 21:06:00
@inbook{46d23883-125d-4fcb-9f14-7820ff4377df,
  abstract     = {{Growth theory predicts that poor countries will grow faster than rich countries. Yet, growth in developing countries has been consistently lower than growth in developed countries. The poor economic performance of developing countries coincides with both long-lasting and short-lived financial crises. In this paper, we analyze to what extent financial crises can explain low growth rates in developing countries. We distinguish between inflation, currency, banking, debt, and stock-market crises and separate the short- and long-run effects of them. Our results show that financial crises have reduced growth and that the policy decisions have caused them to be worsened and/or extended.}},
  author       = {{Andersson, Fredrik N G and Karpestam, Peter}},
  booktitle    = {{Wavelet Applications in Economics and Finance}},
  editor       = {{Gallegati, Marco and Semmler, Willi}},
  isbn         = {{978-3-319-07060-5}},
  keywords     = {{growth; financial crisis; developing countries; short run; long run}},
  language     = {{eng}},
  publisher    = {{Springer}},
  title        = {{Short and long run growth effects of financial crises}},
  year         = {{2014}},
}