Medium Term Business Cycles in Developing Countries

Diego A. Comin, Norman Loayza, Farooq Pasha, Luis Serven

NBER Working Paper No. 15428
Issued in October 2009

---- Acknowledgements -----

For excellent research assistance, we are grateful to Freddy Rojas, Naotaka Sugawara, and Tomoko Wada. We have benefitted from insightful comments from Susanto Basu, Ariel Burnstein, Antonio Fatás, Fabio Ghironi, Gita Gopinath, Aart Kraay, Marti Mestieri, Claudio Raddatz, Julio Rotemberg, Akos Valentinyi, Lou Wells, and seminar participants at Harvard University, Carnegie Mellon, Harvard Business School, CEPR-Budapest, INSEAD, Boston College, EIEF, and the World Bank. We gratefully recognize the financial support from the Knowledge for Change Program of the World Bank. The views expressed in this paper are those of the authors, and do not necessarily reflect those of the institutions to which they are affiliated, nor those of the National Bureau of Economic Research.

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