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The quantification of structural reforms: extending the framework to emerging market economies

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  • Balázs Egert

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries. The findings suggest that the quality of institutions matters to a large extent for economic outcomes. More competition-friendly regulations, as measured by the OECDs' Product Market Regulation (PMR) indicator improve economic outcomes. Lower barriers to foreign trade and investment help MFP. Lower barriers to entry and less pervasive state control of businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital deepening could be established. But looser labour market regulation is found to go hand in hand with higher employment rates. The paper shows that countries at different level of economic development face different policy impacts. Furthermore, PMR effects depend on the level of labour market regulations.

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  • Balázs Egert, 2018. "The quantification of structural reforms: extending the framework to emerging market economies," Working Papers hal-04141783, HAL.
    • Handle: RePEc:hal:wpaper:hal-04141783
    Note: View the original document on HAL open archive server: https://hal.science/hal-04141783
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    References listed on IDEAS

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    1. Yvan Guillemette & Alexandre Kopoin & David Turner & Andrea De Mauro, 2017. "A revised approach to productivity convergence in long-term scenarios," OECD Economics Department Working Papers 1385, OECD Publishing.
    2. Hansen, Bruce E., 1999. "Threshold effects in non-dynamic panels: Estimation, testing, and inference," Journal of Econometrics, Elsevier, vol. 93(2), pages 345-368, December.
    3. Balázs Égert & Peter Gal & Isabelle Wanner, 2017. "Structural policy indicators database for economic research (SPIDER)," OECD Economics Department Working Papers 1429, OECD Publishing.
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