Market-Oriented Reforms: Definitions and Measurement
AbstractThis paper presents ways of measuring the progress of market-oriented reforms in both traditional areas of first-generation reform and the areas of institutional reform that have been emphasized lately. These policy areas are the domestic financial system; international financial markets; international trade; the labor market; the tax system; public infrastructure and public firms; the legal and regulatory framework; and governance. For each of them, first, we discuss the general principles underlying market oriented reform; second, we present various indicators of the policy stance in the area in question; and third, we present various outcome indicators of the policy stance.
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Bibliographic InfoPaper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 237.
Date of creation: 2003
Date of revision:
Publication status: Published as "On the Measurement of Market-oriented Reforms", Raimundo Soto; Norman V. Loayza. In "Understanding Market Reforms Volume 1: Philosophy, Politics and Stakeholders". Pp. 78-112. Edited by JosÃ© MarÃa Fanelli y Gary McMahon, Palgrave Macmillan, 2005.
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