Growth Dynamics: The Myth of Economic Recovery: Comment
- (pp. 3774-77)
AbstractThis comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil war leads to a loss in output of 18 percent. This makes civil wars more devastating than all other crisis studied by CS.
Citation2012. "Growth Dynamics: The Myth of Economic Recovery: Comment." American Economic Review, 102(7): 3774-77. DOI: 10.1257/aer.102.7.3774
- E23 Macroeconomics: Production
- E32 Business Fluctuations; Cycles
- O47 Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence