Microeconomic Adjustment During Structural Reforms: The Nicaraguan Manufacturing Sector 1991-1995
The main rationale for the implementation of structural reforms favoring free markets is that they, through increased competition, are likely to create incentives to improve the way firms operate i.e. firm efficiency. In this study we measure and analyze total factor productivity and technical efficiency in a large sample of Nicaraguan manufacturing firms. Our analysis indicates that whereas structural reforms may be necessary conditions for the development of developing economies, their expected positive effects on sources of growth such as total factor productivity and technical efficiency could be so slow that it may be necessary to develop sufficient conditions or policy instruments for spurring economic growth in the short run.
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|Date of creation:||30 Dec 1998|
|Date of revision:|
|Publication status:||Published in Canadian Journal of Development Studies, 1999, pages 545-566.|
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