The output effects of reforms: empirical evidence from 90 countries

Christos Mavrogiannis and Athanasios Tagkalakis

Economics and Business Letters, 2025, vol. 14, issue 3, 126-133

Abstract: Utilizing a new annual dataset of structural reforms covering 90 countries from 1973 to 2014, we investigate the long-term effects of major reform shocks on growth. By applying the local projection method and addressing reform endogeneity with the Augmented Inverse Probability Weighted estimator, we find that reforms have a positive long-term effect on growth. Advanced economies reap the greatest benefits of reforms in the long term, while emerging market economies benefit in the short to medium term. Low-income countries enjoy only limited positive effects from reforms.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ove:journl:aid:21729

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