Series: IMF Working Papers
Author(s): Valerie Cerra , and Sweta Saxena
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2003
Keywords: Crisis, Recovery, Hong Kong, Korea, recessions, asian crisis, recession, probability, probabilities, International Finance: Other
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countrie...