Growth and Structural Reforms: A New Assessment
This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 09/284 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications |
| Beschreibung: | 1 Online-Ressource (52 p) |
| ISBN: | 1451874294 9781451874297 |
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| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:35Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Christiansen, Lone Engbo Verfasser aut Growth and Structural Reforms A New Assessment Christiansen, Lone Engbo Washington, D.C International Monetary Fund 2009 1 Online-Ressource (52 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/284 This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications Online-Ausg Schindler, Martin Sonstige oth Tressel, Thierry Sonstige oth http://elibrary.imf.org/view/IMF001/10618-9781451874297/10618-9781451874297/10618-9781451874297.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Christiansen, Lone Engbo Growth and Structural Reforms A New Assessment |
| title | Growth and Structural Reforms A New Assessment |
| title_auth | Growth and Structural Reforms A New Assessment |
| title_exact_search | Growth and Structural Reforms A New Assessment |
| title_exact_search_txtP | Growth and Structural Reforms A New Assessment |
| title_full | Growth and Structural Reforms A New Assessment Christiansen, Lone Engbo |
| title_fullStr | Growth and Structural Reforms A New Assessment Christiansen, Lone Engbo |
| title_full_unstemmed | Growth and Structural Reforms A New Assessment Christiansen, Lone Engbo |
| title_short | Growth and Structural Reforms |
| title_sort | growth and structural reforms a new assessment |
| title_sub | A New Assessment |
| url | http://elibrary.imf.org/view/IMF001/10618-9781451874297/10618-9781451874297/10618-9781451874297.xml |
| work_keys_str_mv | AT christiansenloneengbo growthandstructuralreformsanewassessment AT schindlermartin growthandstructuralreformsanewassessment AT tresselthierry growthandstructuralreformsanewassessment |