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Impact of Structural Reformson Productivity Growth in Industrial Countries

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  • Ranil Salgado
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    Abstract

    This paper investigates the impact of structural reforms on productivity growth. A panel analysis of 20 OECD countries finds that the impact of structural reforms on productivity growth may be weak or negative in the short run, possibly due to adjustment costs and the need for firms to learn how to operate in a less regulated and more competitive environment. In the long run, however, structural reforms are found to have significantly positive effects on productivity growth.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15582
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/10.

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    Length: 26
    Date of creation: 01 Jan 2002
    Date of revision:
    Handle: RePEc:imf:imfwpa:02/10

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    Related research

    Keywords: Productivity; Trade; labor productivity; labor market; tariff rate; per capita income; labor productivity growth; average tariff; tariff rates; labor market reforms; labor market flexibility; average tariff rates; average tariff rate; indirect taxes; trade protection; dynamic impact; trade reform; labor markets; average unemployment; political economy; export intensity; nontariff barriers; import penetration; domestic production; perfect competition; tariff revenues; import duties; labor market reform; labor market indicators; import quotas; trade reforms; domestic consumption; imperfect competition; indicators of labor market reforms; impact of labor market reforms;

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    1. Robert E. Hall, 1986. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
    2. Rauf Gönenç & Maria Maher & Giuseppe Nicoletti, 2000. "The Implementation and the Effects of Regulatory Reform: Past Experience and Current Issues," OECD Economics Department Working Papers 251, OECD Publishing.
    3. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 110(462), pages C1-33, March.
    4. Catherine J. Morrison, 1990. "Market Power, Economic Profitability and Productivity Growth Measurement: An Integrated Structural Approach," NBER Working Papers 3355, National Bureau of Economic Research, Inc.
    5. Roeger, Werner, 1995. "Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 103(2), pages 316-30, April.
    6. Ian Domowitz & R. Glenn Hubbard & Bruce C. Petersen, 1986. "Market Structure and Cyclical Fluctuations in U.S. Manufacturing," NBER Working Papers 2115, National Bureau of Economic Research, Inc.
    7. Joaquim Oliveira Martins & Stefano Scarpetta, 1999. "The Levels and Cyclical Behaviour of Mark-ups Across Countries and Market Structures," OECD Economics Department Working Papers 213, OECD Publishing.
    8. Ian Domowitz & R. Glenn Hubbard & Bruce C. Petersen, 1986. "Business Cycles and the Relationship Between Concentration and Price-Cost Margins," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 1-17, Spring.
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    Cited by:
    1. Christian Dreger & Manuel Art�s & Rosina Moreno & Raúl Ramos & Jordi Suri�ach, 2007. "Study on the feasibility of a tool to measure the macroeconomic impact of structural reforms," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 272, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    2. Cassidy, Mark, 2004. "Productivity in Ireland: Trends and Issues," Quarterly Bulletin Articles, Central Bank of Ireland, pages 83-105, April.
    3. Akinlo, Anthony Enisan, 2005. "Impact of Macroeconomic Factors on Total Factor Productivity in Sub-Saharan African Countries," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2005/39, World Institute for Development Economic Research (UNU-WIDER).
    4. Alfonso Arpaia & Werner Roeger & Janos Varga & Jan in 't Veld & Alexandr Hobza & Isabel Grilo & Peter Wobst, 2007. "Quantitative assessment of Structural Reforms: Modelling the Lisbon Strategy," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 282, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    5. Fabienne Ilzkovitz & Adriaan Dierx & Viktoria Kovacs & Nuno Sousa, 2007. "Steps towards a deeper economic integration: the internal market in the 21st century," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 271, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    6. Fritz Breuss, 2003. "Austria, Finland and Sweden in the European Union. Economic Effects," Austrian Economic Quarterly, WIFO, vol. 8(4), pages 131-158, December.

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