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The Quantification of Structural Reforms: Taking Stock of the Results for OECD and Non-OECD Countries

Author

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  • Balazs Egert

Abstract

This paper summarises earlier OECD work aimed at quantifying the impact of structural reforms on economic outcomes. It overviews i.) insights obtained for the linear relationships linking policies and economic outcomes (including multi-factor productivity, capital deepening and employment) for an almost complete set of OECD countries, ii.) non-linear results on how policies interact with each other in OECD countries, and iii.) results extended for emerging-market economies looking at whether policy effects vary across countries depending on the level of economic development and whether institutions have an influence on economic outcomes. The paper lists of policies and institutions that could be used to quantify the effect of reforms. It also gives some guidance on how to quantify reforms in OECD and non-OECD countries. It provides mid-point estimates of the long-run effects on per capita income levels through the three supply-side channels. Finally, it raises the issue of estimation and model uncertainty.

Suggested Citation

  • Balazs Egert, 2020. "The Quantification of Structural Reforms: Taking Stock of the Results for OECD and Non-OECD Countries," CESifo Working Paper Series 8778, CESifo.
    • Handle: RePEc:ces:ceswps:_8778
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    File URL: https://www.ifo.de/DocDL/cesifo1_wp8778.pdf
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    References listed on IDEAS

    as
    1. Balázs Égert & Peter Gal, 2018. "The quantification of structural reforms: Introducing country-specific policy effects," OECD Economics Department Working Papers 1487, OECD Publishing.
    2. Balázs Égert, 2018. "The quantification of structural reforms," OECD Economics Department Working Papers 1482, OECD Publishing.
    3. 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.
    4. Peter Gal & Adam Theising, 2015. "The macroeconomic impact of structural policies on labour market outcomes in OECD countries: A reassessment," OECD Economics Department Working Papers 1271, OECD Publishing.
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    Cited by:

    1. Balázs Égert, 2021. "Investment in OECD Countries: a Primer," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 200-223, June.

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    Keywords

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    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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