The Macroeconomic and Socioeconomic Effects of Structural Reforms in Latin America and the Caribbean.
This paper estimates the macroeconomic effects of market-oriented reforms in Latin America and the Caribbean using the IMF Structural Reform database. We find that large changes in the reform index have positive effects on GDP that exceed 2 percent after five years. Furthermore, reforms boost employ...
| Publicado en: | Economía pp. 115 - 156 |
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| Autores principales: | , , |
| Formato: | Artículo |
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London School of Economics & Political Science
Spring2021
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=164759969&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 164759969 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 15297470 N8H jtl: Economía issn: 15297470 maglogo: N pubinfo: dt: Spring2021 pid: 66142 pub: London School of Economics & Political Science artinfo: ui: 164759969 10.31389/eco.227 ppf: 115 ppct: 41 formats: fmt: @attributes: type: P size: 20.6MB tig: atl: The Macroeconomic and Socioeconomic Effects of Structural Reforms in Latin America and the Caribbean. aug: au: DAVID, ANTONIO C. TAKUJI KOMATSUZAKI PIENKNAGURA, SAMUEL affil: International Monetary Fund, United States su: Industrial productivity Reforms Databases sug: subj: Industrial productivity Reforms Databases keyword: Latin America macroeconomic effects Structural reforms Latin America macroeconomic effects Structural reforms ab: This paper estimates the macroeconomic effects of market-oriented reforms in Latin America and the Caribbean using the IMF Structural Reform database. We find that large changes in the reform index have positive effects on GDP that exceed 2 percent after five years. Furthermore, reforms boost employment, investment, exports, and imports and reduce export concentration, in addition to favoring tradable sectors. The evidence on the effects of reforms on business confidence is mixed, and the effects on total factor productivity are positive, but less precisely estimated. Nonetheless, our results also indicate that the effects of reforms have not been uniform across different segments of the population. Our results are robust to the use of an instrumental variables approach that exploits regional waves of reform to deal with endogeneity concerns. These findings bring to the forefront the need to consider accompanying policies to ensure that reforms promote inclusive growth. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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