Growth, reform indicators and policy complementarities

Jorge Braga de Macedo and Joaquim Oliveira Martins

Nova SBE Working Paper Series from Universidade Nova de Lisboa, Nova School of Business and Economics

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.

Pages: 24 pages
Date: 2006
New Economics Papers: this item is included in nep-mac and nep-tra
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Citations: View citations in EconPapers (23)

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Related works:
Working Paper: Growth, Reform Indicators and Policy Complementaries (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:unl:unlfep:wp484

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