01955cas a2200277 a 4500 AALejournalIMF007605 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849448 1018-5941 BD-DhAAL BD-DhAAL Sahay, Ratna. The Evolution of Output in Transition Economies : Explaining the Differences / Ratna Sahay, Jeromin Zettelmeyer, Eduardo Borensztein, Andrew Berg. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (81 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students What are the relative roles of macroeconomic variables, structural policies, and initial conditions in explaining the time path of output in transition and the large observed differences in output performance across transition economies? Using a sample of 26 countries, this paper follows a general-to-specific modeling approach that allows for differential effects of policies and initial conditions on the private and state sectors and for time-dependent effects of initial conditions. While showing some fragility to model specification, the results point to the preeminence of structural reforms over both initial conditions and macroeconomic variables in explaining cross-country differences in performance and the timing of the recovery. Mode of access: Internet Berg, Andrew. Borensztein, Eduardo. Zettelmeyer, Jeromin. IMF Working Papers; Working Paper ; No. 1999/073 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/073/001.1999.issue-073-en.xml IMF e-Library