The author reviews recent literature on capital formation and economic reform and looks at the cycle of private investment that occurs during adjustment. He identifies three phases in the response of private investment to adjustment programs: initial contraction, a long pause, and sustained recovery. The empirical evidence from Chile, Mexico, and Thailand shows that the initial contraction lasts from one to two years and the pause for three to five...
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INFORMATION
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1992/05/31
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Document de travail de recherche sur les politiques
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WPS912
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1
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1
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2010/07/01
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Understanding the investment cycle in adjustment programs : evidence from reforming economies
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private investment
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