Hidden Bibliographic Details
| Other authors / contributors: | Zdzienicka, Aleksandra, author.
International Monetary Fund. Middle East and Central Asia Department, issuing body.
International Monetary Fund. African Department, issuing body.
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| ISBN: | 1283558343
9781283558341
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| Notes: | At head of title: Middle East and Central Asia, and African Departments.
Title from PDF title page (IMF Web site, viewed December 6, 2011).
"December 2011."
Includes bibliographical references.
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| Summary: | The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets.
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