Growth, Reform Indicators and Policy Complementarities

Braga de Macedo, Jorge; Oliveira Martins, Joaquim

http://hdl.handle.net/10362/82989

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Autores

Braga de Macedo, Jorge

Oliveira Martins, Joaquim

Resumo(s)

This paper discusses the design of structural policies by relating second-best results and the complementarity of reforms. It computes a complementarity index based on structural reform indicators compiled by the EBRD for transition countries, assuming that the run-up to EU integration corresponds to a nearly complete policy cycle. Using econometric panel estimates, the level of reforms and changes in their complementarity are found to be positively related to output growth, corrected for endogeneity, and given initial conditions and the extent of macroeconomic stabilisation.

Palavras-chave

Second-best Complementarity Structural reforms Reform indicators Economic growth Transition Panel data

URI

http://hdl.handle.net/10362/82989

Citação

Braga de Macedo, Jorge, Oliveira Martins, Joaquim, Growth, Reform Indicators and Policy Complementarities (June, 2006). FEUNL Working Paper Series No. 484

Coleções

NSBE - Working Paper Series

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