Growth, Reform indicators and Policy complementarities

Jorge Braga de Macedo and Joaquim Oliveira Martins ()

FEUNL Working Paper Series from Universidade Nova de Lisboa, Faculdade de Economia

Abstract: This paper discusses the design of structural policies by relating second-best results and the complementarity of reforms. It computes a complementarity index based on structural reform indicators compiled by the EBRD for transition countries, assuming that the run-up to EU integration corresponds to a nearly complete policy cycle. Using econometric panel estimates, the level of reforms and changes in their complementarity are found to be positively related to output growth, corrected for endogeneity, and given initial conditions and the extent of macroeconomic stabilisation.

New Economics Papers: this item is included in nep-mac and nep-tra
Date: 2006
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http://fesrvsd.fe.unl.pt/WPFEUNL/WP2006/wp484.pdf

Related works:
Working Paper: Growth, Reform Indicators and Policy Complementaries (2006)
Journal Article: Growth, reform indicators and policy complementarities (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:unl:unlfep:wp484

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