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| Tekijä: | Masih, R. |
| Otsikko: | Persistence of exogenous shocks in developing countries: an alternative perspective |
| Lehti: | Scandinavian Journal of Development Alternatives
1998 : DEC, VOL. 17:4, p. 76-82 |
| Asiasana: | DEVELOPING COUNTRIES ECONOMICS POLICY |
| Kieli: | eng |
| Tiivistelmä: | The less developed countries (LDCs) have been subjected to a series of exogenous shocks where in some countries it has proven to be an issue detrimental to their development potential. Policy responses aimed to neutralize these shocks have mainly been ineffective qwing largely to the persistence of these shocks. In industrialized economies shocks are now viewed to have permanent rather than transitory effects on fiscal variables. This paper attempts to justify why the shock persistent hypothesis may apply even more so to the LDCs by firstly reviewing the patterns and effects of major shocks during the previous two decades. |
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