Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/176940
Authors: 
Egert, Balazs
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper 6921
Abstract: 
This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries. The findings suggest that the quality of institutions matters to a large extent for economic outcomes. More competition-friendly regulations, as measured by the OECDs’ Product Market Regulation (PMR) indicator improve economic outcomes. Lower barriers to foreign trade and investment help MFP. Lower barriers to entry and less pervasive state control of businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital deepening could be established. But looser labour market regulation is found to go hand in hand with higher employment rates. The paper shows that countries at different level of economic development face different policy impacts. Furthermore, PMR effects depend on the level of labour market regulations.
Subjects: 
structural reforms
product markets
labour markets
regulation
institutions
simulation
multi-factor productivity
investment
employment
per capital impact
OECD
emerging market economies
developing countries
JEL: 
D24
E17
E22
E24
J08
Document Type: 
Working Paper

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