Structural Reforms And Macroeconomic Performance Initial Considerations For The Fund
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Structural Reforms And Macroeconomic Performance Initial Considerations For The Fund
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-14
Structural Reforms And Macroeconomic Performance Initial Considerations For The Fund written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-14 with Business & Economics categories.
Structural policies have become a prominent feature of today’s macroeconomic policy discussion. For many countries, lackluster economic growth and high unemployment cloud the outlook. With fewer traditional policy options, policymakers are increasingly focused on the complementary role of structural policies in promoting more durable job-rich growth. In particular, the G20 has emphasized the essential role of structural reforms in ensuring strong, sustainable and balanced growth. Against this backdrop, the 2014 Triennial Surveillance Review (TSR) called for further work to enhance the Fund’s ability to selectively provide more expert analysis and advice on structural issues, particularly where there is broad interest among member countries. The purpose of this paper is to engage the Board on staff’s post-TSR work toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues.
Structural Reforms And Macroeconomic Performance Country Cases
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-14
Structural Reforms And Macroeconomic Performance Country Cases written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-14 with Business & Economics categories.
As a companion piece to the Board paper on Structural Reforms and Macroeconomic Performance: Initial Considerations for the Fund, this paper presents a selection of case studies on the structural reform experiences of member countries. These papers update the Board on work since the Triennial Surveillance Review toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues. The paper builds on the already considerable analytical work underway across the Fund, setting out considerations to support a more strategic approach going forward.
Structural Reforms And Macroeconomic Performance
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Structural Reforms And Macroeconomic Performance written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
How To Gain The Most From Structural Conditionality Of Imf Supported Programs
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Author : Mr. Jochen R. Andritzky
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-13
How To Gain The Most From Structural Conditionality Of Imf Supported Programs written by Mr. Jochen R. Andritzky and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-13 with Business & Economics categories.
Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF. Taking stock of program conditions and their implementation, this paper finds that conditionality focuses on fiscal, monetary and financial issues—areas where IMF expertise is strong—and shies away from structural areas such as labor or product market reforms. Hence, tackling deep-rooted structural issues during IMF-supported programs often remained elusive. To ensure countries gain most from IMF conditionality, the paper outlines an evaluation matrix for prioritizing and designing structural reforms, and applies it to case studies.
Structural Reforms And Economic Performance In Advanced And Developing Countries
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Author : Mr.Jonathan David Ostry
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-15
Structural Reforms And Economic Performance In Advanced And Developing Countries written by Mr.Jonathan David Ostry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-15 with Business & Economics categories.
Drawing on a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, this book examines the impact on economic performance in 91 countries of policies designed to increase the role of market forces and competition. Such policies, known as structural reforms, have been broadly pursued by the country groupings analyzed in this study since 1970, but individual country experiences have differed. Real and financial reforms have, for example, boosted income growth widely. Financial reforms have also raised growth through several channels, including lower domestic credit constraints and larger FDI inflows. The growth effects of financial and real reforms reflect a more favorable assessment of the future profitability and solvency of domestic firms in most countries, as embodied in credit ratings. Growth effects, however, differ significantly across countries depending on the reform sequencing strategy adop
Structural Reforms And External Rebalancing
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Author : Mr.Alexander Culiuc
language : en
Publisher: International Monetary Fund
Release Date : 2017-08-07
Structural Reforms And External Rebalancing written by Mr.Alexander Culiuc and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-07 with Business & Economics categories.
Empirical research on structural reforms has focused primarily on their impact on growth and productivity. Yet an often-invoked rationale for structural reforms is their impact on external adjustment. This paper finds little evidence that structural reforms improve the current account in the short run, but they can increase the responsiveness and resilience of the economy to external shocks. In particular, elasticities of exports with respect to the real effective exchange rate increase with some structural indicators, suggesting that structural reforms facilitate the reallocation of resources to the tradable sector in response to a negative external shock. The paper concludes that structural reforms, while not having an immediate positive impact on the current account balance, can be an important complement to traditional macroeconomic adjustment.
Assessing The Macroeconomic Impact Of Structural Reforms The Case Of Italy
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Author : Ms.Lusine Lusinyan
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-24
Assessing The Macroeconomic Impact Of Structural Reforms The Case Of Italy written by Ms.Lusine Lusinyan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-24 with Business & Economics categories.
Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor markets. Our analysis, based on the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), attempts to quantify the potential gains to the economy from a comprehensive package of structural reforms. We find that these gains can be sizeable. While in most cases, the reforms go in the right direction, their impact would depend on effective and timely implementation. In some areas, especially in the labor market, reforms would benefit from further strengthening. The priorities should be to strengthen competition in the non-tradable sector and make the labor market more efficient and inclusive, supported by growth-friendly fiscal reforms.
Structural Reform Packages Sequencing And The Informal Economy
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Author : Zsuzsa Munkacsi
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-26
Structural Reform Packages Sequencing And The Informal Economy written by Zsuzsa Munkacsi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-26 with Business & Economics categories.
This paper explores the macroeconomic impacts of labor and product market deregulation using a small open-economy model with formal and informal markets. We examine both the long-run effects and the transition towards the post-reform equilibrium, while our main focus are reform packages and sequencing. The unofficial sector is a major determinant of the sign, and, in particular, the magnitude of responses. South Africa, an emerging country, is considered when Bayesian estimating the model. Regarding the long run, both labor and product market reforms considerably increase output, although labor market reforms are more successful in decreasing unemployment. Nevertheless, there are short-term costs, for example, a decrease in household consumption, net exports or output, or a decrease in competition. Combining reforms, especially with product market deregulation, are good at reducing short-term costs. Finally, concerning the speed of adjustment, it is usually better to start with a labor market reform.
Republic Of Tajikistan
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2006-02-17
Republic Of Tajikistan written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-17 with Business & Economics categories.
This paper discusses Ex Post Assessment of Longer-Term Program Engagement for the Republic of Tajikistan. The assessment reveals that Tajikistan’s macroeconomic performance during 1998–2005 has been robust, albeit with occasional lapses. Economic growth during this period has far exceeded program projections, but inflation performance has been at times volatile, and often overshot program targets. Macroeconomic stabilization was mainly driven by a strong fiscal consolidation. In contrast, monetary policy has occasionally undermined inflation performance. Initial progress in implementing structural reforms was uneven.
United Republic Of Tanzania
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-27
United Republic Of Tanzania written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.
This Selected Issues paper examines productivity, growth, structural reforms, and macroeconomic policies in Tanzania. Tanzania experienced macroeconomic stabilization and significant structural change over the last three decades, including two major waves of reforms, first in the mid-1980s and more importantly in the mid-1990s. Both reform waves were followed by total factor productivity (TFP) and growth spurts. Over the recent period, TFP growth decreased, which coincided with a less strong reform drive. It is suggested that a TFP-led growth model is superior and that vigorous reforms are needed to foster further structural transformation of the economy and sustain high productivity gains and investment.