A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries

Released on by Jiri Podpiera
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  • A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries Book Detail

  • Author : Jiri Podpiera
  • Release Date : 2017-02-14
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 37
  • ISBN 13 : 1475578989
  • File Size : 13,13 MB
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A Fresh Look at Potential Output in Central, Eastern, and Southeastern European Countries by Jiri Podpiera PDF Summary

Book Description: Was the postcrisis growth slowdown in Central, Eastern and Southeastern Europe (CESEE) structural or cyclical? We use three different methods—production function approach, basic multivariate filter, and multivariate filter with financial frictions—to evaluate potential growth and output gaps for 18 CESEE countries during 2000-15. Our findings suggest that potential growth weakened significantly after the crisis across most countries in the region. This decline appears to be largely due to stagnant productivity and weaker capital accumulation, which were associated with common external factors, including trading partners’ slow potential growth, but also decline in global trade and stalled expansion of global value chains. Our estimates suggest that output gaps in 2015 were largely closed in many countries in the region.

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Montenegro

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This Selected Issues paper analyzes the long-term growth prospects and the output gap in Montenegro. Historical growth in Montenegro was driven mostly by capita

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Republic of Croatia

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Total View : 3176 Views
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This 2017 Article IV Consultation highlights that Croatia continued its third year of positive economic growth in 2017. Growth is expected to stay at similar le