Search Results

You are looking at 1 - 10 of 54 items for :

  • "regulation indices" x
Clear All
Aidar Abdychev, La-Bhus Fah Jirasavetakul, Mr. Andrew W Jonelis, Mr. Lamin Y Leigh, Ashwin Moheeput, Friska Parulian, Ara Stepanyan, and Albert Touna Mama
Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in recent years. Although factor accumulation, most notably capital deepening, was crucial to the success of many SMICs historically, this growth model appears to have run its course. The analysis in this paper suggests that the decline in the contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be contributing to the slow implementation of these critical reforms in these countries. The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the quality of their public spending, most notably in education to minimize the skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to finance by small and medium-sized enterprises and create the enabling environment to facilitate structural transformation in these economies.
International Monetary Fund

1. Italy’s Privatization Process 2. Criteria for Assessing Fiscal Risks of Public Enterprises References IV. Financial Intermediation and Growth in Italy A. Financial Development and Growth: Theory and Evidence B. What about Italy? C. Policy Implications Figures 1. Size of the Financial Sector 2. Stock and Corporate Bond Market Capitalization, 3. The Relative Importance of Loans and Securities (Average, 2000–04) 4. Italy’s Innovation Performance is Poor 5. Italy’s Venture Capital is Underdeveloped 6. Market Regulation Indices

International Monetary Fund

. Appendix. A Vector Error Correction Model of Labor Court Activity and Unemployment. References. Boxes VII.1. The Economic Effects of Regulation in Literature. 2. Sources and Construction of Regulation Indices. Figures VII. 1. Market Regulation: Germany Relative to the EU-15. 2. EU: Estimated Cost and Rent Mark-Up Due to Market Restrictiveness. 3. Labor Court Activity, Unemployment Rate, and Real GDP Growth Rate,1951-2002. Tables VII.1. Stylized Facts, 1992-2004. 2. Scope for Improvement in Product Market Regulation. 3

International Monetary Fund

1. Economic Performance, 1992–2006 2. Competitiveness and Exports 1980–2005 3. Profitability, Leverage and Capacity Utilization 1991–2004 4. Interest Rates and Credit Developments 5. Financial Indicators 6. Quarterly GDP Growth Contributions, 2004–06 7. Comparison of Business Cycles, 1970–2005 8. Fiscal Projections, 2000–50 9. Employment Growth and Coverage of Collective Wage Agreements 10. Market Regulation Indices Relative to the EU-15 Average, 2003 11. Relative Market Valuation and Distance to Default Appendices I. Public Debt

Mr. Rabah Arezki, Mr. Marc G Quintyn, and Mr. Frederik G Toscani

account, trade, agriculture, networks and capital account. The lagged level of regulation indices for the associated sectors are included but estimates are not reported. The method of estimation is ordinary least square. Standard deviations are shown in parentheses below the point estimates are based on robust standard errors that are clustered at the country level. *Significantly different from zero at 90 percent confidence, ** 95 percent confidence, *** 99 percent confidence. Table 2 presents estimates of the average marginal effect of IMF capacity building and

Mr. Rabah Arezki, Mr. Marc G Quintyn, and Mr. Frederik G Toscani
This paper investigates the role that International Monetary Fund (IMF) programs and capacity building play in fostering structural reforms. To do so, we exploit two novel datasets on IMF capacity building and structural reforms available for over one hundred IMF member countries over the period 1980 - 2010. The main results are threefold. First, there is a general association between IMF programs and structural reforms but this relationship is not very robust. Second, IMF training leads to an increase in structural reforms but only through IMF programs and only when a significant share of public servants is trained. Third, IMF technical assistance does not significantly lead to more structural reforms but raises the likelihood of completion of ongoing IMF programs. Our results are robust to a large number of checks, estimators and correcting for endogeneity.
International Monetary Fund

market regulation. Next we turn to market restrictiveness in the service sector. The data sources are two studies commissioned by the EU commission. 47 The final part explores the degree of labor market regulation. The information draws on the OECD employment protection database (OECD 2004b). Data sources and transformations into comparable indices are described in Box 2 General Findings 185. At an aggregated level Germany’s regulation of product markets appears average . Figure 1 compares Germany’s regulation indices for three different areas with the EU 15