When Do Structural Reforms Work

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When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies

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Author : MissAnna Rose Bordon
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-15

When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies written by MissAnna Rose Bordon 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 2016-03-15 with Business & Economics categories.

Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a cyclical upswing is difficult to distinguish from the recovery itself. Similarly, macroeconomic policies conducted along a structural reform could affect the estimated impact. Exploring various options, this paper develops robust estimates of the impact of labor and product market reforms by using local projection techniques while controlling for endogeneity of reforms and other biases. The results suggest that labor and product market reforms have a lagged but positive impact on employment creation, and the positive effect remains even after controlling for the endogeneity of the decision to reform. Supportive macroeconomic policies are found to increase the effect of labor and product market reforms, consistent with the view that some structural reforms are best initiated in conjunction with supportive fiscal or monetary policy.

Structural Reforms

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Author : Jakob de Haan
language : en
Publisher: Springer
Release Date : 2018-03-22

Structural Reforms written by Jakob de Haan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-22 with Political Science categories.

This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.

Structural Reforms And Firms Productivity Evidence From Developing Countries

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Author : Wilfried A. Kouamé
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-19

Structural Reforms And Firms Productivity Evidence From Developing Countries written by Wilfried A. Kouamé 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 2018-03-19 with Business & Economics categories.

This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.

When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies

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Author : MissAnna Rose Bordon
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-15

When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies written by MissAnna Rose Bordon 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 2016-03-15 with Business & Economics categories.

Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a cyclical upswing is difficult to distinguish from the recovery itself. Similarly, macroeconomic policies conducted along a structural reform could affect the estimated impact. Exploring various options, this paper develops robust estimates of the impact of labor and product market reforms by using local projection techniques while controlling for endogeneity of reforms and other biases. The results suggest that labor and product market reforms have a lagged but positive impact on employment creation, and the positive effect remains even after controlling for the endogeneity of the decision to reform. Supportive macroeconomic policies are found to increase the effect of labor and product market reforms, consistent with the view that some structural reforms are best initiated in conjunction with supportive fiscal or monetary policy.

Structural Reforms And Productivity Growth In Emerging Market And Developing Economies

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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-09

Structural Reforms And Productivity Growth In Emerging Market And Developing Economies written by Ms.Era Dabla-Norris 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 2016-02-09 with Business & Economics categories.

This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across countries at different stages of development, using a distance-to-frontier framework. It gauges whether particular policies and reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and developing economies (EMDEs) than others. Recognizing the possibility of time lags between reform implementation and reform payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term.

Economic Crisis And Structural Reforms In Southern Europe

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Author : Paolo Manasse
language : en
Publisher: Routledge
Release Date : 2017-12-12

Economic Crisis And Structural Reforms In Southern Europe written by Paolo Manasse and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-12 with Business & Economics categories.

In recent years the countries of southern Europe have undergone, with varying intensity, a serious and prolonged economic crisis. Most have had to implement comprehensive economic adjustment programmes, including a wide range of structural reforms. Economic Crisis and Structural Reforms in Southern Europe examines these reforms, drawing policy lessons from their successes and failures. This book employs two basic strands of analysis: issues of policy design, and political economy considerations. It considers the choice of timing and sequencing of reforms, the choice of the appropriate policy instruments, the pressure of interest groups and the political calculations involved in reforms. Featuring chapters in which contributors explore both national cases of specific structural reforms, and a comparative approach in order to evaluate similar reforms across countries, this important and topical work explores ongoing issues within the economy. Focusing on the challenges of designing and implementing structural reforms under conditions of crisis, this book will be of interest to policy makers and researchers from national and international organizations as well as academics and members of research institutes interested in the economics and politics of the Eurozone crisis.

Beyond Reforms

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Author : Jose Antonio Ocampo
language : en
Publisher: World Bank Publications
Release Date : 2005-07-15

Beyond Reforms written by Jose Antonio Ocampo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-15 with Business & Economics categories.

'Beyond Reforms' argues that economic growth in developing countries is intrinsically tied to the dynamics of production structures, to the specific policies and institutions created to support it, and the creation of linkages among domestic firms and sectors. Avoiding macroeconomic instability is also essential. However, macroeconomic stability is not a sufficient condition for growth. The broader institutional context and the adequate provision of education and infrastructure are essential 'framework conditions,' but generally do not play a direct role in bringing about changes in the momentum of economic growth.

The Political Economy Of Structural Reforms In Europe

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Author : Nauro F. Campos
language : en
Publisher: Oxford University Press
Release Date : 2018-07-03

The Political Economy Of Structural Reforms In Europe written by Nauro F. Campos and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-03 with Business & Economics categories.

Reforms in labour and product markets play a central role in government policies. The Political Economy of Structural Reforms in Europe takes stock of current frontier work. It brings together leading contributions from academia, the central banks in Europe, and the OECD to argue that structural reforms can make a fundamental contribution to improve economic performance across Europe. The Political Economy of Structural Reforms in Europe brings together theoretical and empirical studies that address the potential role of structural reforms in restoring macroeconomic stability, resuming economic growth, addressing income inequality, and grappling secular stagnation. It throws new light on the determinants and effects of structural reforms and on how these shape the European integration experience.

Economic Policy Reforms 2016 Going For Growth Interim Report

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2016-02-26

Economic Policy Reforms 2016 Going For Growth Interim Report written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-26 with categories.

Going for Growth is the OECD’s regular report on structural reforms in policy areas that have been identified as priorities to boost incomes in OECD and selected non-OECD countries (Brazil, China, Colombia, India, Indonesia, Latvia, Russian Federation and South Africa).

New Structural Economics

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Author : Justin Yifu Lin
language : en
Publisher: World Bank Publications
Release Date : 2012-01-01

New Structural Economics written by Justin Yifu Lin and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.

This book provides an innovative framework to analyze the process of industrial upgrading and diversification, a key feature of economic development. Based on this framework, it provides concrete advice to development practitioners and policy makers on how to unleash a country's growth potential.