- 39 -
Table A1: Recession Episodes
Country First year Last year Country First year Last year Country First year Last year Country First year Last year
AFRICA ASIA ADVANCED ECONOMIES WESTERN HEMISPHERE
Algeria 1971 1971 Bhutan 1972 1973 United States 1974 1975 Antigua and Barbuda 1982 1982
Algeria 1988 1988 Bhutan 1975 1975 United States 1980 1980 Antigua and Barbuda 1992 1992
Algeria 1993 1993 Brunei Darussalam 1989 1989 United States 1982 1982 Antigua and Barbuda 1995 1995
Benin 1983 1983 Brunei Darussalam 1992 1992 United States 1991 1991 Argentina 1976 1976
Benin 1987 1987 Cambodia 1990 1990 Japan 1974 1974 Argentina 1978 1978
Benin 1989 1989 Cambodia 1997 1998 Japan 1993 1994 Argentina 1981 1982
Botswana 1992 1995 China 1972 1972 Germany 1981 1982 Argentina 1985 1985
Burkina Faso 1983 1983 China 1974 1974 Germany 1993 1993 Argentina 1989 1989
Burkina Faso 1987 1987 China 1976 1976 France 1975 1975 Bahamas, The 1975 1975
Burkina Faso 1990 1990 China 1981 1981 France 1991 1991 Bahamas, The 1981 1981
Burundi 1993 1993 China 1989 1990 France 1993 1993 Bahamas, The 1991 1992
Burundi 1995 1996 Fiji 1977 1977 Italy 1982 1982 Barbados 1981 1982
Cameroon 1988 1988 Fiji 1980 1980 Italy 1993 1993 Barbados 1990 1992
Cameroon 1990 1993 Fiji 1983 1983 United Kingdom 1974 1975 Brazil 1981 1981
Cape Verde 1990 1990 Fiji 1985 1985 United Kingdom 1980 1981 Brazil 1983 1983
Cape Verde 1992 1992 Fiji 1987 1987 United Kingdom 1991 1992 Brazil 1990 1990
Central African Republi
1982 1983 India 1972 1972 Canada 1982 1982 Brazil 1992 1992
Central African Republi
1987 1987 India 1974 1974 Canada 1990 1992 Chile 1982 1983
Central African Republi
1990 1990 India 1976 1976 Spain 1981 1981 Costa Rica 1980 1982
Central African Republi
1992 1992 India 1979 1979 Spain 1992 1993 Costa Rica 1985 1985
Central African Republi
1996 1996 India 1991 1991 Netherlands 1993 1993 Costa Rica 1991 1991
Chad 1993 1993 Indonesia 1982 1982 Belgium 1983 1983 Costa Rica 1996 1996
Comoros 1989 1989 Lao P.D. Republic 1977 1979 Belgium 1993 1993 Dominican Republic 1984 1985
Comoros 1991 1991 Lao P.D. Republic 1987 1988 Sweden 1991 1993 Dominican Republic 1990 1991
Comoros 1994 1995 Malaysia 1998 1998 Austria 1978 1978 Ecuador 1983 1983
Congo, Rep. of 1994 1994 Maldives 1975 1977 Austria 1981 1981 Ecuador 1987 1987
Congo, Dem. Rep. of 1997 1997 Myanmar 1986 1988 Austria 1984 1984 Grenada 1992 1993
CÂte d'Ivoire 1983 1984 Myanmar 1991 1991 Austria 1993 1993 Haiti 1982 1982
CÂte d'Ivoire 1987 1987 Nepal 1971 1971 Denmark 1974 1975 Haiti 1992 1992
Djibouti 1977 1977 Nepal 1973 1973 Denmark 1980 1981 Haiti 1994 1994
Equatorial Guinea 1991 1991 Nepal 1980 1980 Denmark 1989 1989 Honduras 1974 1975
Ethiopia 1984 1985 Nepal 1983 1983 Denmark 1993 1993 Honduras 1982 1983
Ethiopia 1991 1992 Nepal 1985 1985 Finland 1991 1993 Honduras 1994 1994
Gabon 1981 1981 Pakistan 1971 1972 Greece 1982 1982 Jamaica 1974 1974
Gabon 1992 1992 Pakistan 1993 1993 Greece 1987 1987 Jamaica 1988 1988
Gambia, The 1984 1984 Pakistan 1997 1997 Greece 1993 1993 Mexico 1982 1983
Gambia, The 1995 1995 Philippines 1984 1985 Portugal 1983 1984 Mexico 1995 1995
Ghana 1982 1982 Philippines 1991 1991 Portugal 1993 1993 Netherlands Antilles 1982 1982
Guinea-Bissau 1983 1983 Philippines 1998 1998 Ireland 1983 1983 Netherlands Antilles 1984 1986
Guinea-Bissau 1986 1986 Samoa 1974 1974 Luxembourg 1975 1975 Panama 1983 1983
Kenya 1992 1993 Samoa 1990 1990 Luxembourg 1977 1977 Panama 1987 1988
Madagascar 1981 1981 Sri Lanka 1987 1987 Luxembourg 1981 1983 Paraguay 1982 1983
Madagascar 1991 1991 Sri Lanka 1989 1989 Norway 1978 1978 Paraguay 1986 1986
Malawi 1981 1981 Thailand 1997 1998 Norway 1982 1982 Peru 1983 1983
Malawi 1992 1992 Tonga 1988 1988 Norway 1988 1988 Peru 1988 1990
Mali 1983 1983 Tonga 1990 1990 Israel 1989 1989 St. Kitts and Nevis 1975 1975
Mauritania 1982 1982 Tonga 1997 1997 Iceland 1983 1983 St. Kitts and Nevis 1978 1978
Mauritania 1990 1990 Vanuatu 1986 1986 Iceland 1988 1989 St. Kitts and Nevis 1980 1980
Mauritius 1981 1981 Vanuatu 1992 1992 Iceland 1992 1992 St. Kitts and Nevis 1983 1983
Mauritius 1984 1984 Vietnam 1972 1973 Korea 1980 1980 St. Lucia 1980 1980
Morocco 1981 1981 Vietnam 1978 1978 Korea 1998 1998 St. Vincent and the Gre
1991 1991
Morocco 1987 1987 Vietnam 1980 1980 Australia 1982 1983 St. Vincent and the Gre
1993 1994
Morocco 1992 1993 Australia 1990 1991 St. Vincent and the Gre
1996 1996
Morocco 1995 1995 Number of episodes 52 Taiwan Province of Chi
1982 1982 Suriname 1974 1974
Morocco 1997 1997 Taiwan Province of Chi
1998 1998 Suriname 1980 1980
Mozambique, Rep. of 1982 1984 Hong Kong SAR 1985 1985 Suriname 1993 1994
Mozambique, Rep. of 1992 1992 MIDDLE EAST Hong Kong SAR 1998 1998 Trinidad and Tobago 1983 1988
Namibia 1990 1990 Singapore 1975 1975 Venezuela 1989 1989
Niger 1992 1992 Bahrain 1985 1985 Singapore 1985 1986 Venezuela 1994 1994
Nigeria 1987 1987 Bahrain 1987 1987 Singapore 1998 1998
Rwanda 1982 1982 Iran, Islamic Republic o
1986 1986 New Zealand 1991 1991 Number of episodes 59
Rwanda 1989 1989 Iran, Islamic Republic o
1988 1988
Rwanda 1991 1991 Jordan 1989 1989 Number of episodes 61 TRANSITION COUNTRIES
Senegal 1984 1984 Malta 1982 1982
Senegal 1993 1993 Malta 1984 1984 Albania 1997 1997
Seychelles 1994 1995 Oman 1987 1987 Belarus 1995 1995
Sierra Leone 1985 1985 Syrian Arab Republic 1986 1986 Bulgaria 1996 1997