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    Structural Reforms and Economic Performance in Advanced and Developing Countries
    Unavailable
    Structural Reforms and Economic Performance in Advanced and Developing Countries
    Unavailable
    Structural Reforms and Economic Performance in Advanced and Developing Countries
    Ebook168 pages1 hour

    Structural Reforms and Economic Performance in Advanced and Developing Countries

    By Antonio Spilimbergo

    ()

    Currently unavailable

    Currently unavailable

    About this ebook

    This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.

    LanguageEnglish
    PublisherINTERNATIONAL MONETARY FUND
    Release dateOct 15, 2009
    ISBN9781452767482
    Unavailable
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