Growth-Equity Trade-offs in Structural Reforms.:
Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross-country data covering advanced, emerging-market, and low-income countries. Our main finding is that there is indeed evidence o...
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| Hauptverfasser: | , , |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2018]
|
| Schriftenreihe: | IMF working paper ;
WP/18/5. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross-country data covering advanced, emerging-market, and low-income countries. Our main finding is that there is indeed evidence of a growth-equity tradeoff for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as do some measures of liberalization of current account transactions. Reforms aimed at strengthening the impartiality of and adherence to the legal system seem to entail no growth-equity tradeoff-such reforms are good for growth and do not worsen inequality. The results for our index of network reforms as well as our measure of the decentralization of collective labor bargaining are the weakest and least robust, potentially due to data limitations. We also ask: If some structural reforms worsen inequality, to what degree does this offset the growth gains from the reforms themselves? While higher inequality does dampen the growth benefits, the net effect on growth remains positive for most reform indicators. |
| Beschreibung: | 1 online resource (47 pages) |
| ISBN: | 1484337018 1484336801 9781484336809 9781484337011 |
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| 245 | 1 | 0 | |a Growth-Equity Trade-offs in Structural Reforms. |
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| 505 | 0 | |a Cover; Contents; I. INTRODUCTION; II. A REVIEW OF THE LITERATURE; III. REFORMS DATA; IV. GROWTH-EQUITY TRADE-OFFS: AN ASSESSMENT FRAMEWORK; V. GROWTH-EQUITY TRADE-OFFS IN REFORMS: RESULTS; A. Domestic Finance Reforms; B. Capital Account Liberalization; C. Rule of Law; D. Current Account Liberalization; E. Networks Reform; F. Collective Bargaining Reforms; G. Reforms, Growth, and Inequality: A Look at Country Cases; VI. STRUCTURAL REFORMS, INEQUALITY, AND GROWTH: A SIMPLE CALCULATION; VII. CONCLUSION; FIGURES; Figure 1. Box Plots of Reform Indices. | |
| 505 | 8 | |a Figure 2. Reform Indices Over Time by Income LevelFigure 3. Domestic Finance Reforms: Growth and Inequality Around Breaks; Figure 4. Capital Account Liberalization: Growth and Inequality Around Breaks; Figure 5. Tariff Liberalization: Growth and Inequality Around Breaks; Figure 6. Current Account Liberalization: Growth and Inequality Around Breaks; Figure 7. Network Reforms: Growth and Inequality Around Breaks; Figure 8. Collective Bargaining: Growth and Inequality Around Up-breaks; Figure 9. Collective Bargaining: Growth and Inequality Around Down-breaks. | |
| 505 | 8 | |a Figure 10: Growth and Inequality Effects of Structural ReformsFigure 11: Short-term Effect of Reforms on Growth; Figure 12. Country Cases: Growth, Inequality & Structural Reform Episodes; Figure 13: Direct and Indirect Effect of Reforms on Steady State Level of Per-capita GDP; TABLES; Table 1. Domestic Finance Reforms: Growth-Equity Trade-off; Table 2. Subcomponents of Domestic Finance Reforms Index: Growth-Equity Trade-off; Table 3. Capital Account Liberalization: Growth-Equity Trade-off; Table 4. Rule of Law: Growth-Equity Trade-offs; Table 5. Tariff Liberalization: Growth-Equity Trade-off. | |
| 505 | 8 | |a Table 6. Current Account Liberalization: Growth-Equity Trade-offTable 7. Networks Reforms: Growth-Equity Trade-off; Table 8. Collective Bargaining Reforms: Growth-Equity Trade-offs; APPENDICES; Appendix I: Reforms Data; Appendix II: Algorithm for finding Reform Episodes; Appendix III: Country Classification by Income Group; References. | |
| 520 | 3 | |a Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross-country data covering advanced, emerging-market, and low-income countries. Our main finding is that there is indeed evidence of a growth-equity tradeoff for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as do some measures of liberalization of current account transactions. Reforms aimed at strengthening the impartiality of and adherence to the legal system seem to entail no growth-equity tradeoff-such reforms are good for growth and do not worsen inequality. The results for our index of network reforms as well as our measure of the decentralization of collective labor bargaining are the weakest and least robust, potentially due to data limitations. We also ask: If some structural reforms worsen inequality, to what degree does this offset the growth gains from the reforms themselves? While higher inequality does dampen the growth benefits, the net effect on growth remains positive for most reform indicators. | |
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| author | Ostry, Jonathan David Berg, Andrew Kothari, Siddharth |
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| contents | Cover; Contents; I. INTRODUCTION; II. A REVIEW OF THE LITERATURE; III. REFORMS DATA; IV. GROWTH-EQUITY TRADE-OFFS: AN ASSESSMENT FRAMEWORK; V. GROWTH-EQUITY TRADE-OFFS IN REFORMS: RESULTS; A. Domestic Finance Reforms; B. Capital Account Liberalization; C. Rule of Law; D. Current Account Liberalization; E. Networks Reform; F. Collective Bargaining Reforms; G. Reforms, Growth, and Inequality: A Look at Country Cases; VI. STRUCTURAL REFORMS, INEQUALITY, AND GROWTH: A SIMPLE CALCULATION; VII. CONCLUSION; FIGURES; Figure 1. Box Plots of Reform Indices. Figure 2. Reform Indices Over Time by Income LevelFigure 3. Domestic Finance Reforms: Growth and Inequality Around Breaks; Figure 4. Capital Account Liberalization: Growth and Inequality Around Breaks; Figure 5. Tariff Liberalization: Growth and Inequality Around Breaks; Figure 6. Current Account Liberalization: Growth and Inequality Around Breaks; Figure 7. Network Reforms: Growth and Inequality Around Breaks; Figure 8. Collective Bargaining: Growth and Inequality Around Up-breaks; Figure 9. Collective Bargaining: Growth and Inequality Around Down-breaks. Figure 10: Growth and Inequality Effects of Structural ReformsFigure 11: Short-term Effect of Reforms on Growth; Figure 12. Country Cases: Growth, Inequality & Structural Reform Episodes; Figure 13: Direct and Indirect Effect of Reforms on Steady State Level of Per-capita GDP; TABLES; Table 1. Domestic Finance Reforms: Growth-Equity Trade-off; Table 2. Subcomponents of Domestic Finance Reforms Index: Growth-Equity Trade-off; Table 3. Capital Account Liberalization: Growth-Equity Trade-off; Table 4. Rule of Law: Growth-Equity Trade-offs; Table 5. Tariff Liberalization: Growth-Equity Trade-off. Table 6. Current Account Liberalization: Growth-Equity Trade-offTable 7. Networks Reforms: Growth-Equity Trade-off; Table 8. Collective Bargaining Reforms: Growth-Equity Trade-offs; APPENDICES; Appendix I: Reforms Data; Appendix II: Algorithm for finding Reform Episodes; Appendix III: Country Classification by Income Group; References. |
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| dewey-ones | 339 - Macroeconomics and related topics |
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| dewey-sort | 3339 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBU-on1020031624 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:29Z |
| institution | BVB |
| isbn | 1484337018 1484336801 9781484336809 9781484337011 |
| language | English |
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| series | IMF working paper ; |
| series2 | IMF Working Paper ; |
| spelling | Ostry, Jonathan David, author. Growth-Equity Trade-offs in Structural Reforms. [Washington, D.C.] : International Monetary Fund, [2018] ©2018 1 online resource (47 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; WP/18/5 Print version record. Cover; Contents; I. INTRODUCTION; II. A REVIEW OF THE LITERATURE; III. REFORMS DATA; IV. GROWTH-EQUITY TRADE-OFFS: AN ASSESSMENT FRAMEWORK; V. GROWTH-EQUITY TRADE-OFFS IN REFORMS: RESULTS; A. Domestic Finance Reforms; B. Capital Account Liberalization; C. Rule of Law; D. Current Account Liberalization; E. Networks Reform; F. Collective Bargaining Reforms; G. Reforms, Growth, and Inequality: A Look at Country Cases; VI. STRUCTURAL REFORMS, INEQUALITY, AND GROWTH: A SIMPLE CALCULATION; VII. CONCLUSION; FIGURES; Figure 1. Box Plots of Reform Indices. Figure 2. Reform Indices Over Time by Income LevelFigure 3. Domestic Finance Reforms: Growth and Inequality Around Breaks; Figure 4. Capital Account Liberalization: Growth and Inequality Around Breaks; Figure 5. Tariff Liberalization: Growth and Inequality Around Breaks; Figure 6. Current Account Liberalization: Growth and Inequality Around Breaks; Figure 7. Network Reforms: Growth and Inequality Around Breaks; Figure 8. Collective Bargaining: Growth and Inequality Around Up-breaks; Figure 9. Collective Bargaining: Growth and Inequality Around Down-breaks. Figure 10: Growth and Inequality Effects of Structural ReformsFigure 11: Short-term Effect of Reforms on Growth; Figure 12. Country Cases: Growth, Inequality & Structural Reform Episodes; Figure 13: Direct and Indirect Effect of Reforms on Steady State Level of Per-capita GDP; TABLES; Table 1. Domestic Finance Reforms: Growth-Equity Trade-off; Table 2. Subcomponents of Domestic Finance Reforms Index: Growth-Equity Trade-off; Table 3. Capital Account Liberalization: Growth-Equity Trade-off; Table 4. Rule of Law: Growth-Equity Trade-offs; Table 5. Tariff Liberalization: Growth-Equity Trade-off. Table 6. Current Account Liberalization: Growth-Equity Trade-offTable 7. Networks Reforms: Growth-Equity Trade-off; Table 8. Collective Bargaining Reforms: Growth-Equity Trade-offs; APPENDICES; Appendix I: Reforms Data; Appendix II: Algorithm for finding Reform Episodes; Appendix III: Country Classification by Income Group; References. Do structural reforms that aim to boost potential output also change the distribution of income? We shed light on this question by looking at the broad patterns in the cross-country data covering advanced, emerging-market, and low-income countries. Our main finding is that there is indeed evidence of a growth-equity tradeoff for some important reforms. Financial and capital account liberalization seem to increase both growth and inequality, as do some measures of liberalization of current account transactions. Reforms aimed at strengthening the impartiality of and adherence to the legal system seem to entail no growth-equity tradeoff-such reforms are good for growth and do not worsen inequality. The results for our index of network reforms as well as our measure of the decentralization of collective labor bargaining are the weakest and least robust, potentially due to data limitations. We also ask: If some structural reforms worsen inequality, to what degree does this offset the growth gains from the reforms themselves? While higher inequality does dampen the growth benefits, the net effect on growth remains positive for most reform indicators. Income. http://id.loc.gov/authorities/subjects/sh85064759 Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Revenu. Macroéconomie. Développement économique. economic development. aat Economic development fast Income fast Macroeconomics fast Measurement Of Economic Growth. ram Aggregate Productivity. ram Human Resources. ram Macroeconomic Analyses Of Economic Development. ram Planning, Coordination, And Reform. ram Berg, Andrew, author. http://id.loc.gov/authorities/names/no95020783 Kothari, Siddharth, author. has work: Growth-Equity Trade-offs in Structural Reforms (Text) https://id.oclc.org/worldcat/entity/E39PCFBDpg39gb8mdCyQDqhgyq https://id.oclc.org/worldcat/ontology/hasWork Print version: Ostry, Jonathan David. Growth-Equity Trade-offs in Structural Reforms. Washington, D.C. : International Monetary Fund, ©2018 9781484336809 IMF working paper ; WP/18/5. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1687308 Volltext |
| spellingShingle | Ostry, Jonathan David Berg, Andrew Kothari, Siddharth Growth-Equity Trade-offs in Structural Reforms. IMF working paper ; Cover; Contents; I. INTRODUCTION; II. A REVIEW OF THE LITERATURE; III. REFORMS DATA; IV. GROWTH-EQUITY TRADE-OFFS: AN ASSESSMENT FRAMEWORK; V. GROWTH-EQUITY TRADE-OFFS IN REFORMS: RESULTS; A. Domestic Finance Reforms; B. Capital Account Liberalization; C. Rule of Law; D. Current Account Liberalization; E. Networks Reform; F. Collective Bargaining Reforms; G. Reforms, Growth, and Inequality: A Look at Country Cases; VI. STRUCTURAL REFORMS, INEQUALITY, AND GROWTH: A SIMPLE CALCULATION; VII. CONCLUSION; FIGURES; Figure 1. Box Plots of Reform Indices. Figure 2. Reform Indices Over Time by Income LevelFigure 3. Domestic Finance Reforms: Growth and Inequality Around Breaks; Figure 4. Capital Account Liberalization: Growth and Inequality Around Breaks; Figure 5. Tariff Liberalization: Growth and Inequality Around Breaks; Figure 6. Current Account Liberalization: Growth and Inequality Around Breaks; Figure 7. Network Reforms: Growth and Inequality Around Breaks; Figure 8. Collective Bargaining: Growth and Inequality Around Up-breaks; Figure 9. Collective Bargaining: Growth and Inequality Around Down-breaks. Figure 10: Growth and Inequality Effects of Structural ReformsFigure 11: Short-term Effect of Reforms on Growth; Figure 12. Country Cases: Growth, Inequality & Structural Reform Episodes; Figure 13: Direct and Indirect Effect of Reforms on Steady State Level of Per-capita GDP; TABLES; Table 1. Domestic Finance Reforms: Growth-Equity Trade-off; Table 2. Subcomponents of Domestic Finance Reforms Index: Growth-Equity Trade-off; Table 3. Capital Account Liberalization: Growth-Equity Trade-off; Table 4. Rule of Law: Growth-Equity Trade-offs; Table 5. Tariff Liberalization: Growth-Equity Trade-off. Table 6. Current Account Liberalization: Growth-Equity Trade-offTable 7. Networks Reforms: Growth-Equity Trade-off; Table 8. Collective Bargaining Reforms: Growth-Equity Trade-offs; APPENDICES; Appendix I: Reforms Data; Appendix II: Algorithm for finding Reform Episodes; Appendix III: Country Classification by Income Group; References. Income. http://id.loc.gov/authorities/subjects/sh85064759 Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Revenu. Macroéconomie. Développement économique. economic development. aat Economic development fast Income fast Macroeconomics fast Measurement Of Economic Growth. ram Aggregate Productivity. ram Human Resources. ram Macroeconomic Analyses Of Economic Development. ram Planning, Coordination, And Reform. ram |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85064759 http://id.loc.gov/authorities/subjects/sh85079443 http://id.loc.gov/authorities/subjects/sh85040804 |
| title | Growth-Equity Trade-offs in Structural Reforms. |
| title_auth | Growth-Equity Trade-offs in Structural Reforms. |
| title_exact_search | Growth-Equity Trade-offs in Structural Reforms. |
| title_full | Growth-Equity Trade-offs in Structural Reforms. |
| title_fullStr | Growth-Equity Trade-offs in Structural Reforms. |
| title_full_unstemmed | Growth-Equity Trade-offs in Structural Reforms. |
| title_short | Growth-Equity Trade-offs in Structural Reforms. |
| title_sort | growth equity trade offs in structural reforms |
| topic | Income. http://id.loc.gov/authorities/subjects/sh85064759 Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Revenu. Macroéconomie. Développement économique. economic development. aat Economic development fast Income fast Macroeconomics fast Measurement Of Economic Growth. ram Aggregate Productivity. ram Human Resources. ram Macroeconomic Analyses Of Economic Development. ram Planning, Coordination, And Reform. ram |
| topic_facet | Income. Macroeconomics. Economic development. Revenu. Macroéconomie. Développement économique. economic development. Economic development Income Macroeconomics Measurement Of Economic Growth. Aggregate Productivity. Human Resources. Macroeconomic Analyses Of Economic Development. Planning, Coordination, And Reform. |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1687308 |
| work_keys_str_mv | AT ostryjonathandavid growthequitytradeoffsinstructuralreforms AT bergandrew growthequitytradeoffsinstructuralreforms AT kotharisiddharth growthequitytradeoffsinstructuralreforms |