Arbeitspapier
Do Weak Institutions Prolong Crises? On the Identification, Characteristics, and Duration of Declines during Economic Slumps
This paper defines economic slumps as sequences of structural breaks exhibiting a specific pattern. We identify 58 such episodes between 1950 and 2008 among 138 countries, and then examine the phases of decline and their duration. In some countries declines last extremely long, and we put several likely contributing factors to the test. We find evidence that weak institutions precede crises and, interestingly, positive reforms occur thereafter. Strong institutions shorten the duration of crises, ethnic cleavages do the reverse. However, the negative effects of ethnic cleavages are not insurmountable: an interaction effect suggests they can be offset by appropriate institutions.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4594
- Klassifikation
-
Wirtschaft
Institutions and Growth
Macroeconomic Analyses of Economic Development
Duration Analysis; Optimal Timing Strategies
Economic Growth of Open Economies
- Thema
-
economic slumps
crises
institutions
structural breaks
duration analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bluhm, Richard
de Crombrugghe, Denis
Szirmai, Adam
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bluhm, Richard
- de Crombrugghe, Denis
- Szirmai, Adam
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2014
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