 Growth and structural reforms: A new assessmentLone Christiansen, Martin Schindler and Thierry Tressel () Journal of International Economics, 2013, vol. 89, issue 2, 347-356 Abstract: This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Domestic financial reforms and trade reforms are robustly associated with economic growth, but only in middle-income countries. In contrast, there is no evidence of a systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is accounted for by improvements in measured aggregate TFP growth, not by higher aggregate investment. Additional analysis suggests that sufficiently developed property rights are a precondition for reaping the benefits of financial and trade reforms. Our results are robust to endogeneity bias and a number of alternative specifications. Keywords: Economic growth; Liberalization; Domestic finance; Trade; Capital account (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:inecon:v:89:y:2013:i:2:p:347-356 DOI: 10.1016/j.jinteco.2012.07.008 Access Statistics for this article Journal of International Economics is currently edited by Gourinchas, Pierre-Olivier and RodrÃguez-Clare, Andrés More articles in Journal of International Economics from Elsevier |
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