Structural Reforms
Structural Reforms

Author: Jakob de Haan

Publisher: Springer

Published: 2018-03-22

Total Pages: 293

ISBN-13: 3319744003

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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.

When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies
When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies

Author: MissAnna Rose Bordon

Publisher: International Monetary Fund

Published: 2016-03-15

Total Pages: 28

ISBN-13: 1513590243

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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.

Macroeconomic Policies and Structural Reform
Macroeconomic Policies and Structural Reform

Author: Organisation for Economic Co-operation and Development

Publisher: OECD

Published: 1996

Total Pages: 356

ISBN-13:

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Contains the papers presented at the international conference "Interactions between structural reform, macroeconomic policies and economic performance" & summarises discussions held. Part of the follow-up programme of work [from] the OECD jobs study. - On cover: OECD proceedings

The Politics of Structural Reforms
The Politics of Structural Reforms

Author: Hideko Magara

Publisher: Edward Elgar Publishing

Published: 2013-10-31

Total Pages: 235

ISBN-13: 0857932934

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This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,

Structural Reforms and Economic Performance in Advanced and Developing Countries
Structural Reforms and Economic Performance in Advanced and Developing Countries

Author: Mr.Jonathan David Ostry

Publisher: International Monetary Fund

Published: 2009-10-15

Total Pages: 62

ISBN-13: 1589068181

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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.

Structural Reforms, Productivity and Technological Change in Latin America
Structural Reforms, Productivity and Technological Change in Latin America

Author: Jorge M. Katz

Publisher: United Nations Publications

Published: 2001

Total Pages: 164

ISBN-13:

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In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Focusing on technological change, the impact of the reforms on the process of innovation is examined. It notes that the development process is proving to be highly heterogenous across industries, regions and firms and can be described as strongly inequitable. This differentiation that has emerged has implications for job creation, trade balance, and the role of small and medium sized firms. This ultimately suggests, amongst other things, the need for policies to better spread the use of new technologies.

Structural Reform in Japan
Structural Reform in Japan

Author: Eisuke Sakakibara

Publisher:

Published: 2003

Total Pages: 202

ISBN-13:

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In this candid book, Japan's former top financial diplomat asserts the urgent need for wholesale structural reform to revitalize the long-stagnant Japanese economy. Eisuke Sakakibara, whose influence over global currency markets earned him the nickname of Mr. Yen, envisions a social and economic revolution that encompasses all sectors of Japanese society. Sakakibara. Profitable investment opportunities are hard to find in the dysfunctional corporate sector, where costs are high and earnings continue to decline. The country's entrenched power elite - the Liberal Democratic Party, the bureaucracy, and vested interest groups - are threatened by reform efforts. It will be difficult to restore economic health to Japan until its political leaders are able to break the grip of this iron triangle and implement aggressive, widespread reforms.

Structural Reform and Macroeconomic Policy
Structural Reform and Macroeconomic Policy

Author: R. Solow

Publisher: Springer

Published: 2004-06-29

Total Pages: 180

ISBN-13: 0230524443

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The relation between structural reform and macroeconomic policy underlies the widespread perception that the large European economies have under-performed in the past decade in comparison both with their own standards and with the contemporaneous performance of the United States. This book, edited and introduced by Noel Laureate Robert M. Solow, provides analyses of how these economies could take a co-ordinated and simultaneous approach to reform in labour and product markets and the demand side.

Structural Reform and Growth
Structural Reform and Growth

Author: Kevin Greenidge

Publisher: International Monetary Fund

Published: 2016-04-07

Total Pages: 32

ISBN-13: 1484321812

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Since the 1980’s with the introduction of IMF/WB adjustment programs structural reforms have been a core part of the reform agenda in the Caribbean. The paper reviewed the package of structural reforms in trade liberalization, financial liberalization and tax policy, and gauges their impact on growth. The paper used a set of reform indices to gauge both short-run and long-run effects of structural reforms on growth, controlling for other possible growth determinants using panel dynamic OLS estimation. In addition, recognizing the importance of institutions to growth the empirical analysis also analyzed the impact of institutional quality on growth for a sample of small states including the Caribbean. We concluded that the benefits of structural reforms are only seen over the long-term and in reinvigorating growth the reform effort needs to be revived and include greater attention to strengthening institutional quality.

Structural Reform Packages, Sequencing, and the Informal Economy
Structural Reform Packages, Sequencing, and the Informal Economy

Author: Zsuzsa Munkacsi

Publisher: International Monetary Fund

Published: 2017-05-26

Total Pages: 54

ISBN-13: 1484302125

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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.