Studies the behavior of recoveries from recessions across 59 advanced and emerging market economies over the past 40 years. Focusing on the performance of output after the recession trough, the authors find little or no difference in the pace of output growth across types of recessions. In particular, banking and financial crisis do not affect the strength of the economic rebound, although these recessions are more severe, implying a sizable output loss. However, recovery does change with some characteristics of recession. Recoveries tend to be faster following deeper recessions, esp. in emerging markets, and tend to be slower following long recessions. Charts and tables. This is a print on demand edition of an important, hard-to-find report.