| Description |
1 online resource (v, 53 pages) : color illustrations |
| Series |
Occasional paper ; 268 |
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Occasional paper (International Monetary Fund) ; no. 268.
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| Contents |
Overview -- Introduction -- Structural reforms : measurement and trends -- Determinants of structural reforms -- Structural reforms and economic growth -- Sequencing real and financial sector reforms -- Financial sector reforms and resilience -- Conclusions |
| Summary |
This volume examines the impact on economic performance of structural policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.--Publisher's description |
| Bibliography |
Includes bibliographical references (pages 48-51) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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Print version record |
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digitized 2017 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Structural adjustment (Economic policy) -- Developing countries
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Ajustement structurel.
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Pays en développement.
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Performances économiques.
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Réformes économiques.
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Pays développés.
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Economic history.
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Economic policy.
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Structural adjustment (Economic policy)
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Strukturreform
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Wirtschaftliche Anpassung.
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Wirtschaftswachstum.
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Finanzsektor.
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Industriestaaten.
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Entwicklungsländer.
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Economic History.
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Business & Economics.
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| SUBJECT |
Developing countries -- Economic policy
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Developing countries -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85037344
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| Subject |
Developing countries.
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Entwicklungsländer
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Industriestaaten
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| Form |
Electronic book
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| Author |
Ostry, Jonathan David, 1962-
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Prati, Alessandro, 1961-
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Spilimbergo, Antonio.
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International Monetary Fund.
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| LC no. |
2010279188 |
| ISBN |
1451987161 |
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9781451987164 |
|
