Arbeitspapier
Why Performance Differed Across Countries in the Recent Crisis. How Country Performance in the Recent Crisis Depended on Pre-crisis Conditions
The growth performance of countries proved to be very different during the recent crisis. We apply principal component analysis to derive a single ordinal indicator on growth performance and to analyse whether initial conditions of economies or structural characteristics can explain the differences in growth performance. As initial conditions at the start of the crisis we use fiscal situation, trade competitiveness, output and credit growth, as structural characteristics we test size, openness, share of sectors and per-capita income. The task has proved to be as difficult as expected as causality often works in two ways and policy variables have intervened, which themselves are dependent on the initial conditions and structural characteristics. The three indicators that end up as the best predictors for the depth of the crisis are correlated with one another and thus difficult to disentangle.
- Sprache
-
Englisch
- Erschienen in
-
Series: WIFO Working Papers ; No. 387
- Klassifikation
-
Wirtschaft
- Thema
-
Finanzkrise
Arbeitsmarktpolitik
Beschäftigungseffekt
Systemvergleich
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Aiginger, Karl
- Ereignis
-
Veröffentlichung
- (wer)
-
Austrian Institute of Economic Research (WIFO)
- (wo)
-
Vienna
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Aiginger, Karl
- Austrian Institute of Economic Research (WIFO)
Entstanden
- 2011
Ähnliche Objekte (12)
The recent international crisis
Subsidies and innovation in the recent financial crisis
Mortgage-default research and the recent foreclosure crisis
Subsidies and innovation in the recent financial crisis
House price forecasts, forecaster herding, and the recent crisis
A New Revolution? : The Recent Governmental Crisis in Romania
The euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Sustainability of Romania's External Debt During the Recent Financial Crisis
Relative Performance Pay in the Shadow of Crisis
The Dahrendorf Quandary, Crisis Severity, and Country Performance
The Dahrendorf Quandary, Crisis Severity, and Country Performance
The recent international crisis
Subsidies and innovation in the recent financial crisis
Mortgage-default research and the recent foreclosure crisis
Subsidies and innovation in the recent financial crisis
House price forecasts, forecaster herding, and the recent crisis
A New Revolution? : The Recent Governmental Crisis in Romania
The euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Sustainability of Romania's External Debt During the Recent Financial Crisis
Relative Performance Pay in the Shadow of Crisis
The Dahrendorf Quandary, Crisis Severity, and Country Performance
The Dahrendorf Quandary, Crisis Severity, and Country Performance
The recent international crisis
Subsidies and innovation in the recent financial crisis
Mortgage-default research and the recent foreclosure crisis
Subsidies and innovation in the recent financial crisis
House price forecasts, forecaster herding, and the recent crisis
A New Revolution? : The Recent Governmental Crisis in Romania
The euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution
The Sustainability of Romania's External Debt During the Recent Financial Crisis
Relative Performance Pay in the Shadow of Crisis
The Dahrendorf Quandary, Crisis Severity, and Country Performance