Growth Dynamics: The Myth of Economic Recovery: Comment
This 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.
A pre-print version of the article can be downloaded here. The published version can be downloaded here.
Keywords: civil war, economic growth, regression analysis, dynamic effects.