Die Hoffnung auf eine schnelle Reformdividende – direkte Erwartungseffekte institutioneller Reformen

Friedrich Heinemann, Westerheide Peter () and Waldemar Rotfuß ()
Additional contact information
Westerheide Peter: Zentrum für Europäische Wirtschaftsforschung GmbH (ZEW), Centre for European Economic Research, L7, 1 68161 Mannheim

Zeitschrift für Wirtschaftspolitik, 2008, vol. 57, issue 3, 340-370

Abstract: Immediate effects of institutional reforms on growth and employment are highly important for political agents who frequently have short time horizons. Positive effects of expectations are a suitable transmission channel for a fast success of economic reforms. We analyse whether economic reforms have such an immediate impact on consumer confidence and business climate. We evaluate three case studies, which are supplemented by an additional econometric country panel analysis. Although we find some evidence for positive effects of reforms on business climate, we also detect that consumers tend to react with higher caution and growing insecurity. Our contribution discusses how policy makers should react on these findings.

Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/zfwp-2008-0306 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lus:zwipol:v:57:y:2008:i:3:p:340-370

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/zfwp/html

DOI: 10.1515/zfwp-2008-0306

Access Statistics for this article

Zeitschrift für Wirtschaftspolitik is currently edited by Juergen B. Donges, Steffen J. Roth, Achim Wambach and Christian Watrin

More articles in Zeitschrift für Wirtschaftspolitik from De Gruyter
Bibliographic data for series maintained by Peter Golla ().