Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-l7hp2 Total loading time: 0 Render date: 2024-11-23T23:02:20.935Z Has data issue: false hasContentIssue false

Part I - Economic Growth and Structural Reforms in Europe

Published online by Cambridge University Press:  31 March 2020

Nauro F. Campos
Affiliation:
University College London
Paul De Grauwe
Affiliation:
London School of Economics and Political Science
Yuemei Ji
Affiliation:
University College London
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2020

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

References

Acemoglu, D., Johnson, S. and Robinson, J. A. (2005). ‘Institutions as a Fundamental Cause of Long-Run Growth’, Handbook of Economic Growth, in Aghion, Philippe and Durlauf, Steven (ed.), Handbook of Economic Growth, 1st ed., Vol. 1, chap. 6. Elsevier, pp. 385472.Google Scholar
Aikman, D., Haldane, A. G. and Nelson, B. D. (2015). ‘Curbing the Credit Cycle’, Economic Journal, Vol. 125, pp. 10721109.CrossRefGoogle Scholar
Aixala, J. and Fabro, G. (2008). ‘Does the Impact of Institutional Quality on Economic Growth Depend on Initial Income Level?’, Economic Affairs, Vol. 28, No. 3, pp. 4549.Google Scholar
Alcidi, C., Núñez Ferrer, J., Di Salvo, M., Musmeci, R. and Pilati, M. (2018). ‘Income Convergence in the EU: A Tale of Two Speeds’, CEPS Comments, January. www.ceps.eu/ceps-publications/income-convergence-eu-tale-two-speeds/.Google Scholar
Arbia, G., Battisti, M. and Di Vaio, G. (2010). ‘Institutions and Geography: Empirical Test of Spatial Growth Models for European Regions’, Economic Modelling, Vol. 27, No. 1, January, pp. 1221.Google Scholar
Balassa, B. (1964). ‘The Purchasing Power Parity Doctrine: A Reappraisal’, Journal of Political Economy, Vol. 72, No. 6, pp. 584596.CrossRefGoogle Scholar
Balassa, R. (1961). The Theory of Economic Integration. Irwin.Google Scholar
Bayoumi, T. and Eichengreen, B. (1993). ‘Shocking Aspects of European Monetary Integration’, in Giavazzi, F and Torres, F. (ed.), Adjustment and Growth in the European Monetary Union. Cambridge University Press, pp. 193235.Google Scholar
Berg, A. and Miao, Y. (2010). ‘The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back?’ IMF Working Paper 10/58.Google Scholar
III Blackburne, E. F., and Frank, M. W. (2007). ‘Estimation of Non-Stationary Heterogeneous Panels’, Stata Journal, Vol. 7, No. 2, pp. 197208.Google Scholar
Borio, C., Disyatat, P. and Juselius, M. (2017). ‘Rethinking Potential Output: Embedding Information about the Financial Cycle’, Oxford Economic Papers, Vol. 69, No. 3, July, pp. 655677.Google Scholar
Buti, M. and Turrini, A. (2015). ‘Three Waves of Convergence: Can Eurozone Countries Start Growing Together Again?’, Vox.EU, 17 April.Google Scholar
Campos, N. and Macchiarelli, C. (2018). ‘A History of the European Core and Its Periphery: How an Optimal Currency Area Forms’, Vox.EU, 12 March.Google Scholar
Checherita-Westphal, C. and Rother, P. (2010). ‘The Impact of High and Growing Government Debt on Economic Growth: An Empirical Investigation for the Euro Area’, Working Paper Series 1237, European Central Bank.CrossRefGoogle Scholar
Comunale, M. (2017a). ‘Dutch Disease, Real Effective Exchange Rate Misalignments and Their Effect on GDP Growth in EU’, Journal of International Money and Finance, Vol. 73, Part B, May, pp. 350370.Google Scholar
Comunale, M. (2017b). ‘Synchronicity of Real and Financial Cycles and Structural Characteristics in EU Countries’, Centre for Economic and International Studies (CEIS) Working Paper No. 414.Google Scholar
Comunale, M. and Mongelli, F. P. (2019). ‘Who Did It? A European Detective Story Was it Real, Financial, Monetary and/or Institutional? Tracking Growth in the Euro Area with an Atheroretical Tool’, Bank of Lithuania Working Paper Series.Google Scholar
Comunale, M. and Striaukas, J. (2017). ‘Unconventional Monetary Policy: Interest Rates and Low Inflation. A Review of Literature and Methods’, Centre for Applied Macroeconomic Analysis (CAMA), Australian National University, WP Series 29/2017.Google Scholar
Crespo Cuaresma, J., Ritzberger-Grünwald, D. and Silgoner, M. A. (2008). ‘Growth Convergence and EU Membership’, Applied Economics, Vol. 40, No. 5, pp. 643656.CrossRefGoogle Scholar
Cristina, F. and Garcia Perea, P. (2015). ‘The Impact of the Euro on Euro Area GDP per Capita’, Banco de España Working Paper No. 1530.Google Scholar
De Luca, G. and Magnus, J. R. (2011). ‘Bayesian Model Averaging and Weighted-Average Least Squares: Equivariance, Stability, and Numerical Issues’, Stata Journal, StataCorp LP, Vol. 11, No. 4, December, pp. 518544.Google Scholar
Diaz del Hoyo, J. L, Dorrucci, E., Ferdinand Heinz, F. and Muzikarova, S. (2017). ‘Real Convergence in the Euro Area: A Long-Term Perspective’, Occasional Paper Series, No. 203, ECB.Google Scholar
Dorrucci, E., Ioannou, D., Mongelli, F. and Terzi, A. (2015). ‘The four unions “PIE” on the Monetary Union “CHERRY”: A New Index of European Institutional Integration’, Occasional Paper Series, No. 160, ECB.Google Scholar
Drehmann, M., Borio, C. and Tsatsaronis, K. (2012). Characterising the Financial Cycle: Don’t Lose Sight of the Medium Term!’, Bank for International Settlements, Working Paper No. 380.Google Scholar
ECB (2007). ‘Determinants of Growth in the EU Member States of Central and Eastern Europe’, Monthly Bulletin, May.Google Scholar
ECB (2015a). ‘Real Convergence in the Euro Area: Evidence, Theory and Policy Implications’, Economic Bulletin, No. 5, pp. 30–45.Google Scholar
ECB (2015b). ‘Progress with Structural Reforms across the Euro Area and Their Possible Impacts’, Economic Bulletin, No. 2, pp. 59–71.Google Scholar
ECB (2016). ‘Increasing Resilience and Long-Term Growth: The Importance of Sound Institutions and Economic Structures for Euro Area Countries and EMU’, Economic Bulletin, No. 5, pp. 76–96.Google Scholar
ECB (2017a). ‘The Importance of Firm Heterogeneity for Competitiveness in the European Union’, Economic Bulletin, No. 2, March, pp. 83–102.Google Scholar
ECB (2017b). ‘The Slowdown in Euro Area Productivity since the Crisis in a Global Context’, Economic Bulletin, No. 3, May, pp. 47–67.Google Scholar
ECB WGEM Team on Real and Financial Cycles (2018). ‘Real and Financial Cycles in EU Countries: Stylised Facts and Modelling Implications’, ECB Occasional Paper Series, No. 205.Google Scholar
Edwards, S. and Savastano, M. (2000). ‘Exchange Rates in Emerging Economies: What Do We Know? What Do We Need to Know?’, in Krueger, A. (ed.), Economic Policy Reform: The Second Stage. University of Chicago Press, pp. 453510.Google Scholar
European Commission (2013). ‘Catching-Up Processes in the Euro Area’, Quarterly Report on the Euro Area, Vol. 12, No. 1, March, pp. 718.Google Scholar
European Commission (2014). ‘The Drivers of Total Factor Productivity in Catching-Up Economies’, Quarterly Report on the Euro Area, Vol. 13, No. 1, April, pp. 719.Google Scholar
Gala, P. and Lucinda, C. R. (2006). ‘Exchange Rate Misalignment and Growth: Old and New Econometric Evidence’, Revista Economia, vol.7, n.4, pp. 165–187, December 2006.Google Scholar
Garcia-de-Andoain, C. and Kremer, M. (2017). ‘Beyond Spreads: Measuring Sovereign Market Stress in the Euro Area’, Economics Letters, Vol. 159, October, pp. 153156.Google Scholar
Gómez-Puig, M. and Sosvilla-Rivero, S. (2016). ‘Debt-Growth Linkages in EMU across Countries and Time Horizons’, Instituto Complutense de Estudios Internacionales, Universidad Complutense de Madrid, WP 02/16.Google Scholar
Han, X., Khan, H. and Zhuang, J. (2014). ‘Do Governance Indicators Explain Development Performance? A Cross-Country Analysis’, Economics Working Paper Series, No. 417, Asian Development Bank.Google Scholar
Hassan, F., di Mauro, F. and Ottaviano, G. I. P. (2017). ‘Banks Credit and Productivity Growth’, Working Paper Series 2008, European Central Bank.CrossRefGoogle Scholar
Henrekson, M. , Torstensson, J. and Torstensson, R. (1997). ‘Growth Effects of European Integration’, European Economic Review, Vol. 41, No. 8, August, pp. 15371557.Google Scholar
Holló, D., Kremer, M. and Lo Duca, M. (2012). ‘CISS – a Composite Indicator of Systemic Stress in the Financial System’, Working Paper Series 1426, European Central Bank.Google Scholar
IMF (2017). ‘Real Income Convergence in the Euro Area’, Euro Area Policies, Selected Issues, IMF Country Report, No. 17/236, pp. 4–14.Google Scholar
Ivanov, V. and Kilian, L. (2005). ‘A Practitioner’s Guide to Lag Order Selection for VAR Impulse Response Analysis’, Studies in Nonlinear Dynamics & Econometrics, Vol. 9, No. 1, March, pp. 136.Google Scholar
Kempa, B. and Khan, N. S. (2017). ‘Spillover Effects of Debt and Growth in the Euro Area: Evidence from a GVAR Model’, International Review of Economics & Finance, Vol. 49, May, pp. 102111.Google Scholar
Magnus, J. R. and De Luca, G. (2016). ‘Weighted-Average Least Squares (WALS): A Survey’, Journal of Economic Surveys, Vol. 30, pp. 117148.Google Scholar
Magnus, J. R., Powell, O., and Präufer, P. (2010). ‘A Comparison of Two Model Averaging Techniques with an Application to Growth Empirics’, Journal of Econometrics, Vol. 154, pp. 139153.Google Scholar
Masanjala, W. and Papageorgiou, C. (2008). ‘Rough and Lonely Road to Prosperity: A Reexamination of the Sources of Growth in Africa Using Bayesian Model Averaging’, Journal of Applied Econometrics, Vol. 23, pp. 671682.Google Scholar
Mauro, P. (1995). ‘Corruption and Growth’, Quarterly Journal of Economics, Vol. 110, No. 3, pp. 681712.Google Scholar
Mika, A. and Zumer, T. (2017). ‘Indebtedness in the EU: A Drag or a Catalyst for Growth?’, Working Paper Series 2118, European Central Bank.CrossRefGoogle Scholar
Milano, V. and Reichlin, P. (2017). ‘Risk Sharing across the Euro Area: The Role of Public Institutions’, Vox.EU, 23 January.Google Scholar
Mongelli, F. P. (2013). ‘The Mutating Euro Area Crisis: Is the Balance between “Sceptics” and “Advocates” Shifting?’, Occasional Paper Series 144, European Central Bank.Google Scholar
Owoundi, F. (2016). ‘Do Exchange Rate Misalignments Really Affect Economic Growth? The Case of Sub-Saharan African Countries’, International Economics, Vol. 145, No. C, pp. 92110.Google Scholar
Panizza, H. and Presbitero, A. F. (2013). ‘Public Debt and Economic Growth in Advanced Economies: A Survey’, Swiss Journal of Economics and Statistics, Vol. 149, pp. 175204.Google Scholar
Panizza, H. and Presbitero, A. F. (2014). ‘Public Debt and Economic Growth: Is There a Causal Effect?’, Journal of Macroeconomics, Vol. 41, 2141.Google Scholar
Papadia, F, (2017). ‘Italian Economic Growth and the Euro’, Bruegel Blog post, 26 July. http://bruegel.org/2017/07/italian-economic-growth-and-the-euro/Google Scholar
Pesaran, M. H. (2003). ‘A Simple Panel Unit Root Test in the Presence of Cross Section Dependence’, Cambridge Working Papers in Economics 0346, Faculty of Economics (DAE), University of Cambridge.Google Scholar
Pesaran, M. H. (2004). ‘General Diagnostic Tests for Cross Section Dependence in Panels’, CESifo Working Paper Series No. 1229; IZA Discussion Paper No. 1240.Google Scholar
Pesaran, M. H. and Tosetti, E. (2011). ‘Large Panels with Common Factors and Spatial Correlation’, Journal of Econometrics, Vol. 161, pp. 182202.Google Scholar
Raftery, A. E. (1995). ‘Bayesian Model Selection in Social Research’, Sociological Methodology, Vol. 25, pp. 111163.Google Scholar
Rodrik, D. (2008). ‘The Real Exchange Rate and Economic Growth’, Brookings Papers on Economic Activity, Fall.Google Scholar
Romer, P. M. (1990). ‘Endogenous Technological Change’, Journal of Political Economy, Vol. 98, No. 5, October, pp. 71102.Google Scholar
Solberger, M. (2011). ‘Demeaning the Data in Panel-Cointegration Models to Control for Cross-Sectional Dependencies’, Economics Letters, Vol. 110, No. 3, pp. 252254.Google Scholar
Solow, R. (1956). ‘A Contribution to the Theory of Economic Growth’, Quarterly Journal of Economics, Vol. 70, No. 1, pp. 6594.Google Scholar
Sondermann, D. (2012). ‘Productivity in the Euro Area: Any Evidence of Convergence?’, Working Paper Series, No 1431, ECB, April.Google Scholar
Westerlund, J. (2007). ‘Testing for Error Correction in Panel Data’. Oxford Bulletin of Economics and Statistics, Vol. 69, No. 6, pp. 709748.CrossRefGoogle Scholar
Wu, J. C. and Xia, F. D. (2016). ‘Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound’, Journal of Money, Credit and Banking, Vol. 48, No. 2–3, pp. 253291.Google Scholar

References

Abadie, A., Diamond, A. and Hainmueller, J. (2010). ‘Synthetic Control Methods for Comparative Case Studies: Estimating the Effect of California’s Tobacco Control Program’, Journal of the American Statistical Association, Vol. 105, No. 490, 493505. doi:DOI 10.1198/jasa.2009.ap08746.Google Scholar
Abadie, A., Diamond, A, and Hainmueller, J. (2015). ‘Comparative Politics and the Synthetic Control Method’, American Journal of Political Science, Vol. 59, No. 2, 495510. doi:10.1111/ajps.12116.Google Scholar
Abadie, A. and Gardeazabal, J. (2003). ‘The Economic Costs of Conflict: A Case Study of the Basque Country’, American Economic Journal: Economic Policy, Vol. 93, No. 1, 114132. doi:10.1257/000282803321455188.Google Scholar
Abiad, A., Oomes, N. and Ueda, K. (2008). ‘The Quality Effect: Does Financial Liberalization Improve the Allocation of Capital?Journal of Development Economics, Vol. 87, No. 2, 270282. doi:10.1016/j.jdeveco.2007.12.002.Google Scholar
Acemoglu, D., Naidu, S., Restrepo, P. and Robinson, J. A. (2014). ‘Democracy Does Cause Growth’. NBER Working Paper, (20004), 164.Google Scholar
Adhikari, B., Duval, R., Hu, B. and Loungani, P. (2018). ‘Can Reform Waves Turn the Tide? Some Case Studies Using the Synthetic Control Method’, Open Economies Review, Vol. 29, No. 4, 879910.Google Scholar
Aghion, P., Howitt, P. and Mayer-Foulkes, D. (2005). ‘The Effect of Financial Development on Convergence: Theory and Evidence’, Quarterly Journal of Economics, Vol. 120, No. 1, 173222. doi:10.1162/qjec.2005.120.1.173.Google Scholar
Aizenman, J. and Spiegel, M. M. (2010). ‘Takeoffs’, Review of Development Economics, Vol. 14, No. 2, 177196.Google Scholar
Alesina, A. F. and Summers, L. H. (1993). ‘Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence’, Journal of Money, Credit and Banking, Vol. 25, No. 2, 151162. doi:10.2307/2077833.Google Scholar
Anderson, K. (2010). ‘Krueger, Schiff, and Valdes Revisited: Agricultural Price and Trade Policy Reform in Developing Countries since 1960’, Applied Economic Perspectives and Policy, Vol. 1, No. 2, 195231. doi:10.1093/aepp/ppq005.Google Scholar
Barro, R. J. (1991). ‘Economic Growth in a Cross Section of Countries’, Quarterly Journal of Economics, Vol. 106, No. 2, 407443. doi:10.2307/2937943.Google Scholar
Beck, T., Levine, R. and Loayza, N. (2000). ‘Finance and the Sources of Growth’, Journal of Financial Economics, Vol. 58, No. 1–2, 261300. doi:10.1016/S0304-405X(00)00072-6.Google Scholar
Bekaert, G., Harvey, C. R. and Lundblad, C. (2005). ‘Does Financial Liberalization Spur Growth?Journal of Financial Economics, Vol. 77, No. 1, 355. doi:10.1016/j.jfineco.2004.05.007.Google Scholar
Billmeier, A. and Nannicini, T. (2013). ‘Assessing Economic Liberalization Episodes: a Synthetic Control Approach’, Review of Economics and Statistics, Vol. 95, No. 3, 9831001. doi:10.1162/REST_a_00324.Google Scholar
Bordon, R., Ebeke, C. and Shirono, K. (2016). ‘When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies’, IMF Working Paper, (62).Google Scholar
DeJong, D. N. and Ripoll, M. (2006). ‘Tariffs and Growth: An Empirical Exploration of Contingent Relationships’, Review of Economics and Statistics, Vol. 88, No. 4, 625640. doi:10.1162/rest.88.4.625.Google Scholar
Dell’Ariccia, G., Giovanni, J., Faria, A., et al. (2007). ‘Reaping the Benefits of Financial Globalization’, IMF Occasional Paper Series.Google Scholar
Dervis, K. and Page, J. M. J. (1984). ‘Industrial Policy in Developing Countries’, Journal of Comparative Economics, Vol. 8, No. 4, 436451. doi:10.4337/9781781000267.Google Scholar
Dollar, D. (1992). ‘Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs’, Economic Development and Cultural Change,Vol. 40, No. 3, 523544.Google Scholar
Dollar, D. and Kraay, A. (2004). ‘Trade, Growth, and Poverty’, Economic Journal, Vol. 114, No. 493, F22–F49. doi:10.1111/j.0013-0133.2004.00186.x.CrossRefGoogle Scholar
Duval, R., Furceri, D. and Jalles, J. (2017). ‘Job Protection Deregulation in Good and Bad Times’, IMF Working Paper, 277.Google Scholar
Easterly, W. (1993). ‘How Much Do Distortions Affect Growth?Journal of Monetary Economics, Vol. 32, No.2, 187212. doi:10.1016/0304-3932(93)90002-W.Google Scholar
Easterly, W. (2005). ‘National Policies and Economic Growth: A Reappraisal’, in Aghion, Philippe and Durlauf, Steven N. (ed.), Handbook of Economic Growth, Vol. 1A, Elsevier B.V., pp. 10151059. doi:10.1016/S1574-0684(05)01015-4.Google Scholar
Easterly, W., Kremer, M., Pritchett, L. and Summers, L. H. (1993). ‘Good Policy or Good Luck – Country Growth-Performance and Temporary Shocks’, Journal of Monetary Economics, Vol. 32, No. 3, 459483. doi:10.1016/0304-3932(93)90026-C.Google Scholar
Edwards, S. (2001). ‘Capital Mobility and Economic Performance: Are Emerging Economies Different?’ NBER Working Paper 8076, 1–34. doi:10.3386/w8076.Google Scholar
Eggertsson, G., Ferrero, A. and Raffo, A. (2014). ‘Can Structural Reforms Help Europe?Journal of Monetary Economics, Vol. 61, 222. doi:10.1016/j.jmoneco.2013.11.006.Google Scholar
Eichengreen, B. (2001). ‘Capital Account Liberalization: What Do Cross-Sections Studies Tell Us?World Bank Economic Review, Vol. 15, No. 3, 341365.Google Scholar
Feenstra, R. C., Inklaar, R. and Timmer, M. P. (2015). ‘The Next Generation of the Penn World Table’, American Economic Review, Vol. 105, No. 10, 31503182. doi:10.1257/aer.20130954.Google Scholar
Frankel, J. and Romer, D. (1999). ‘Does Trade Cause Growth?American Economic Review, Vol. 89, No. 3, 379399.Google Scholar
Frischtak, C., Hadjimichael, B. and Zachau, U. (1989). ‘Competition Policies for Industrializing Countries’, Policy and Research Series.Google Scholar
Galindo, A., Schiantarelli, F. and Weiss, A. (2007). ‘Does Financial Liberalization Improve the Allocation of Investment? Micro-Evidence from Developing Countries’, Journal of Development Economics, Vol. 83, No. 2, 562587. doi:10.1016/j.jdeveco.2005.09.008.Google Scholar
Giuliano, P., Mishra, P. and Spilimbergo, A. (2013). ‘Democracy and Reforms: Evidence from a New Dataset’, American Economic Journal: Macroeconomics, Vol. 5, No. 4, 179204. doi:10.1257/mac.5.4.179.Google Scholar
Gollin, D. (2010). ‘Agricultural Productivity and Economic Growth’, in Aghion, Philippe and Durlauf, Steven (ed.), Handbook of Agricultural Economics, 1st ed., Vol. 4, Elsevier B.V., pp. 38253866. doi:10.1016/S1574-0072(09)04073-0.Google Scholar
Gulati, A., Fan, S. and Dalafi, S. (2005). ‘The Dragon and the Elephant: Agricultural and Rural Reforms in China and India’, MTID Discussion Paper No 87.Google Scholar
Hausmann, R., Klinger, B. and Wagner, R. (2008). ‘Doing Growth Diagnostics in Practice: A “Mindbook”’, Center of International Development at Harvard University – Working Papers, (177).Google Scholar
Hausmann, R., Pritchett, L. and Rodrik, D. (2005). ‘Growth Accelerations’, Journal of Economic Growth, Vol. 10, No. 4, 303329. doi:10.1007/s10887-005-4712-0.Google Scholar
Hausmann, R. and Rodrik, D. (2003). ‘Economic Development as Self-Discovery’, Journal of Development Economics, Vol. 72, No. 2, 603633. doi:10.1016/S0304-3878(03)00124-X.Google Scholar
Hausmann, R., Rodrik, D. and Velasco, A. (2007). ‘Growth Diagnostics’, in Rodrik, D. (ed.), One Economics Many Recepies, Princeton University Press, p. 280.Google Scholar
IMF. (2015). ‘Structural Reforms and Macroeconomic Performance: Initial Considerations for the Fund’.Google Scholar
Jalilian, H., Kirkpatrick, C. and Parker, D. (2007). ‘The Impact of Regulation on Economic Growth in Developing Countries: A Cross-Country Analysis’, World Development, Vol. 35, No. 1, 87103. doi:10.1016/j.worlddev.2006.09.005.Google Scholar
Jong-A-Ping, R. and De Haan, J. (2011). ‘Political Regime Change, Economic Liberalization and Growth Accelerations’, Public Choice, Vol. 146, No. 1–2, 93115.Google Scholar
Kar, S., Pritchett, L., Raihan, S. and Sen, K. (2013). ‘Looking for a Break: Identifying Transitions in Growth Regimes’, Journal of Macroeconomics, Vol. 38, No. PB, 151166. doi:10.1016/j.jmacro.2013.09.022.Google Scholar
Klein, M. W. and Olivei, G. P. (2008). ‘Capital Account Liberalization, Financial Depth, and Economic Growth’, Journal of International Money and Finance, Vol. 27, No. 6, 861875. doi:10.1016/j.jimonfin.2008.05.002.Google Scholar
Kopits, G. and Symansky, S. (1998). ‘Fiscal Policy Rules’, IMF Occasional Paper Series, 1–45.Google Scholar
Kose, M. A., Prasad, E., Rogoff, K. and Wei, S.-J. (2009). ‚Financial Globalization: A Reappraisal’, IMF Staff Papers, Vol. 56, No. 1, 862. doi:10.1057/imfsp.2008.36.Google Scholar
Krueger, A. O. (2005). ‘De Tocqueville’s “Dangerous Moment”: The Importance of Getting Reforms Right’, World Economy, Vol. 28, 749763. doi:10.1111/j.1467-9701.2005.00705.x.Google Scholar
Levine, R. (1997). ‘Financial Development and Economic Growth: Views and Agenda’, Journal of Economic Literature, Vol. XXXV, . June, 688726. doi:10.1126/science.151.3712.867-a.Google Scholar
Levine, R. (2005). ‘Finance and Growth: Theory and Evidence’, in Aghion, P. and Durlauf, S. N. (ed.), Handbook of Economic Growth, Vol. 1, Elsevier B.V., pp. 865934. doi:10.1016/S1574-0684(05)01012-9.Google Scholar
Levine, R. and Renelt, D. (1992). ‘A Sensitivity Analysis of Cross-Country Growth Regressions’, American Economic Review, Vol. 82, No. 4, 942963.Google Scholar
Lin, J. Y. (1992). ‘Rural Reforms and Agricultural Growth in China’, American Economic Review, Vol. 82, No. 1, 3451.Google Scholar
Macours, K. and Swinnen, J. F. M. (2000). ‘Causes of Output Decline in Economic Transition: The Case of Central and Eastern European Agriculture’, Journal of Comparative Economics, Vol. 28, No. 1, 172206. doi:10.1017/CBO9781107415324.004.Google Scholar
Marrazzo, P. M. and Terzi, A. (2017). ‘Structural Reform Waves and Economic Growth, ‘ ECB Working Paper Series, (2111).Google Scholar
Moral-Benito, E. (2012). ‘Determinants of Economic Growth: A Bayesian Panel Data Approach’, Review of Economics and Statistics, Vol. 94, No. 2, 566579.CrossRefGoogle Scholar
Nicoletti, G. and Scarpetta, S. (2003). ‘Regulation, Productivity and Growth: OECD Evidence’, Policy Research Working Paper Series, 1–26. doi:10.1111/1468-0327.00102.Google Scholar
OECD (2012). ‘Economic Policy Reforms: Going for Growth 2012’.Google Scholar
Ostry, J. D., Prati, A. and Spilimbergo, A. (2009). ‘Structural Reforms and Economic Performance in Advanced and Developing Countries’, IMF Occasional Paper Series, 268.Google Scholar
Peruzzi, M. and Terzi, A. (2018). ‘Growth Acceleration Strategies’, Harvard CID Working Paper Series, (91).Google Scholar
Pevehouse, J., Nordstrom, T. and Warnke, K. (2004). ‘The Correlates of War 2 International Governmental Organizations Data Version 2.0’, Conflict Management and Peace Science, Vol. 21, No. 2, 101119. doi:10.1080/07388940490463933.Google Scholar
Pingali, P. L. and Xuan, V.-T. (1992). ‘Vietnam: Decollectivization and Rice Productivity Growth’, Economic Development & Cultural Change, Vol. 40, No. 4, 697718.Google Scholar
Prasad, E. S., Rogoff, K., Wei, S. and Kose, M. A. (2007). ‘Financial Globalization, Growth and Volatility in Developing Countries’, in Harrison, A. (ed.), Globalization and Poverty, University of Chicago Press, pp. 457516. doi:10.1016/j.jmoneco.2006.08.001.Google Scholar
Prati, A., Onorato, M. G. and Papageorgiou, C. (2013). ‘Which Reforms Work and under What Institutional Environment? Evidence from a New Data Set on Structural Reforms’, Review of Economics and Statistics, Vol. 95, July, 946968.Google Scholar
Pritchett, L. (2000). ‘Understanding Patterns of Economic Growth: Searching for Hills among Plateaus, Mountains, and Plains’, World Bank Economic Review, Vol. 14, No. 2, 221–50.Google Scholar
Quinn, D. (1997). ‘The Correlates of Change in International Financial Regulation’, American Political Science Review, Vol. 91, No. 3, 531551.Google Scholar
Quinn, D. and Toyoda, A. M. (2008). ‘Does Capital Account Liberalization Lead to Growth?Review of Financial Studies, Vol. 21, No. 3, 14031449. doi:10.1093/rfs/hhn034.Google Scholar
Rajan, R. G. and Zingales, L. (1998). ‘Financial Dependence and Growth’, American Economic Review, Vol. 88, No. 3, 559586. doi:10.1017/CBO9781107415324.004.Google Scholar
Rodriguez, F. and Rodrik, D. (2001). ‘Trade Policy and Economic Growth: A Skeptic’s Guide to the Cross-National Evidence’, in Bernanke, K., Ben, S. Rogoff, (ed.), NBER Macroeconomics Annual 2000, Vol. 15, MIT Press, pp. 261338. doi:doi:10.1086/654419.Google Scholar
Rodrik, D. (1995). ‘Trade and Industrial Policy Reform’, in Behrman, J. and Srinivasan, T. N. (ed.), Handbook of Development Economics, Elvisier, pp. 29252982. doi:10.1016/S1573-4471(95)30022-8.Google Scholar
Rodrik, D. (1998). ‘Who Needs Capital-Account Convertibility?’ in Kenen, P. (ed.), Should the IMF Pursue Capital Account Convertibility? Princeton University Press, pp. 5565.Google Scholar
Rodrik, D. (2003). ‘What Do We Learn from Country Narratives?’ In Rodrik, D. (ed.), in Search of Prosperity: Analytical Narratives on Economic Growth, Princeton University Press, pp. 120.Google Scholar
Rodrik, D. (2009). One Economics, Many Recipes: Globalization, Institutions, and Economic Growth. Princeton University Press.Google Scholar
Rodrik, D. (2015). Economics Rules: The Rights and Wrongs of The Dismal Science. W. W. Norton.Google Scholar
Rodrik, D. (2018). Straight Talk on Trade. Princeton University Press.Google Scholar
Rodrik, D. and Subramanian, A. (2009). ‘Why Did Financial Globalization Disappoint?IMF Staff Papers, Vol. 56, No. 1, 112138. doi:10.1057/imfsp.2008.29.Google Scholar
Rozelle, S. and Swinnen, J. F. M. (2004). ‘Success and Failure of Reform: Insights from the Transition of Agriculture’, Journal of Economic Literature, Vol. 42, No.2, 404456. doi:10.1257/0022051041409048.Google Scholar
Sachs, J. D. and Warner, A. (1995). ‘Economic Reform and the Process of Global Integration’, Brookings Papers on Economic Activity, Vol. 26, No. 1, 1118. doi:10.2307/2534573.Google Scholar
Sala-i-Martin, X., Doppelhofer, G. and Miller, R. I. (2004). ‘Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach’, American Economic Review, Vol. 94, No. 4, 813835. doi:10.1257/0002828042002570.Google Scholar
Wacziarg, R. and Welch, K. H. (2008). ‘Trade Liberalization and Growth: New Evidence’, World Bank Economic Review, Vol. 22, No.2, 187231. doi:10.1093/wber/lhn007.Google Scholar
Williamson, J. (ed.) (1994). The Political Economy of Policy Reform. Institute for International Economics.Google Scholar
World Bank. (2008). The Growth Report: Strategies for Sustained Growth and Inclusive Development.Google Scholar

References

Acemoglu, D., Gallego, F. and Robinson, J. A. (2014). ‘Institutions, Human Capital and Development’, NBER Working Paper No. 19933.Google Scholar
Acemoglu, D., Johnson, S. and Robinson, J. (2004). ‘Institutions as the Fundamental Cause of Long-Run Growth’, NBER Working Paper No. 10481.Google Scholar
Alesina, A., Ardagna, S., Nicoletti, G. and Schiantarelli, F. (2005). ‘Regulation and Investment’, Journal of the European Economic Association, Vol. 3, 791825.Google Scholar
Andrews, D. and Cingano, F.,(2014). ‘Public Policy and Resource Allocation: Evidence from Firms in OECD Countries’, Economic Policy, Vol. 29, 253296.Google Scholar
Andrews, D., Criscuolo, C. and Gal, P. N. (2015). ‘Frontier Firms, Technology Diffusion and Public Policy: Micro Evidence from OECD Countries’, OECD Productivity Working Paper No. 2.Google Scholar
Araújo, S. (2011). ‘Has Deregulation Increased Investment in Infrastructure? Firm-Level Evidence from OECD Countries’, OECD Economics Department Working Paper No. 892.Google Scholar
Arnold, J., Bassanini, A. and Scarpetta, S. (2007). ‘Solow or Lucas?: Testing Growth Models Using Panel Data from OECD Countries’, OECD Economics Department Working Paper No. 592.Google Scholar
Arnold, J., Nicoletti, G. and Scarpetta, S. (2008). ‘Regulation, Allocative Efficiency and Productivity in OECD Countries: Industry and Firm-Level Evidence’, OECD Economics Department Working Paper No. 616.Google Scholar
Autor, D. H., Kerr, W. R. and Kugler, A. D. (2007). ‘Does Employment Protection Reduce Productivity? Evidence from US States’, Economic Journal, Vol. 117 , 189217.Google Scholar
Barro, R. J. (2001). ‘Human Capital and Growth’, American Economic Review, Vol. 91, 1217.Google Scholar
Barro, R. J. (2003). ‘Determinants of Economic Growth in a Panel of Countries’, Annals of Economics and Finance, Vol. 4, 231274.Google Scholar
Barro, R. J. (2013). ‘Education and Economic Growth’, Annals of Economics and Finance, Vol. 14 , 301328.Google Scholar
Barro, R. J. (2015). ‘Convergence and Modernisation’, Economic Journal, Vol. 125 , 911942.Google Scholar
Bassanini, A. and Garnero, A. (2013). ‘Dismissal Protection and Worker Flows in OECD Countries: Evidence from Cross-Country/Cross-Industry Data’, Labour Economics, Vol. 21, 2541.Google Scholar
Bassanini, A., Scarpetta, S. and Hemmings, P. (2001). ‘Economic Growth: The Role of Policies and Institutions: Panel Data. Evidence from OECD Countries’, OECD Economics Department Working Paper No. 283.Google Scholar
Bjuggren, C. M. (2015). ‘The Effect of Employment Protection on Labor Productivity’, Working Paper Series No. 1061.Google Scholar
Bottasso, A., Conti, M. and Sulis, G. (2016). ‘Firm Dynamics and Employment Protection: Evidence from Sectoral Data’, Working Paper CRENoS No. 201606.Google Scholar
Bouis, R., Duval, R. and Murtin, F. (2011). ‘The Policy and Institutional Drivers of Economic Growth across OECD and Non-OECD Economies: New Evidence from Growth Regressions’, OECD Economics Department Working Papers 843, OECD Publishing.Google Scholar
Cette, G., Lopez, J. and Mairesse, J. (2013). ‘Upstream Product Market Regulations, ICT, R&D and Productivity’, Working paper No. 441.Google Scholar
Cette, G., Lopez, J. and Mairesse, J. (2014). ‘Product and Labor Market Regulations, Production Prices, Wages and Productivity’, NBER Working Paper No. 20563.Google Scholar
Cette, G., Lopez, J. and Mairesse, J. (2016). ‘Market Regulations, Prices, and Productivity’, American Economic Review, Vol. 106, 104108.Google Scholar
Chaurey, R. (2015). ‘Labor Regulations and Contract Labor Use: Evidence from Indian Firms’, Journal of Development Economics, Vol. 114, 224232.CrossRefGoogle Scholar
Cingano, F., Leonardi, M., Messina, J. and Pica, G. (2010). ‘The Effects of Employment Protection Legislation and Financial Market Imperfections on Investment: Evidence from a Firm-Level Panel of EU Countries’, Economic Policy, Vol. 25, 117163.Google Scholar
Cingano, F., Leonardi, M., Messina, J. and Pica, G. (2016). ‘Employment Protection Legislation, Capital Investment and Access to Credit: Evidence from Italy’, Economic Journal, Vol. 126, 17981822.Google Scholar
Crespo Cuaresma, J. and Doppelhofer, G. (2007). ‘Nonlinearities in Cross-Country Growth Regressions: A Bayesian Averaging of Thresholds (BAT) Approach’, Journal of Macroeconomics, Vol. 29, 541554.Google Scholar
Crespo-Cuaresma, J. (2002). ‘Some Million Thresholds: Nonlinearity and Cross-Country Growth Regressions’, Vienna Economics Paper No. 210.Google Scholar
Durlauf, S. N., Kourtellos, A. and Minkin, A. (2000). ‘The Local Solow Growth Model’, Working paper No. 21.Google Scholar
Égert, B. and Gal, P. (2016). ‘The Quantification of Structural Reforms in OECD Countries: A New Framework’, OECD Economics Department Working Paper No. 1354Google Scholar
Égert, B. (2009). ‘Infrastructure Investment in Network Industries: The Role of Incentive Regulation and Regulatory Independence’, OECD Economics Department Working Paper No. 688.Google Scholar
Égert, B. (2017a). ‘Regulation, Institutions, and Productivity: New Macroeconomic Evidence from OECD Countries’, OECD Economics Department Working Paper No. 1393.Google Scholar
Égert, B. (2017b). ‘Regulation, Institutions and Aggregate Investment: New Evidence from OECD Countries’, OECD Economics Department Working Paper No. 1392.Google Scholar
Égert, B., Gal, P. and Wanner, I. (2017). ‘Structural Policy Indicators Database for Economic Research (SPIDER)’, OECD Economics Department Working Paper No. 1429.Google Scholar
Fernandez, C., Ley, E. and Steel, M. (2001). ‘Benchmark Priors for Bayesian Model Averaging’, Journal of Econometrics, Vol. 100, 381427.Google Scholar
Gal, P. and Theising, A. (2015). ‘The Macroeconomic Impact of Policies on Labour Market Outcomes in OECD Countries: A Reassessment’, OECD Economics Department Working Paper No. 1271.Google Scholar
Hall, R. E. andJones, C. I. (1999). ‘Why Do Some Countries Produce So Much More Output per Worker than Others?’, Quarterly Journal of Economics, Vol. 114, 83116.Google Scholar
Hansen, B. E. (1996). ‘Sample Splitting and Threshold Estimation’, Boston College Working Papers in Economics No. 319.Google Scholar
Hansen, B. E. (1999). ‘Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference’, Journal of Econometrics, Vol. 93, 345368.Google Scholar
Kao, C. (1999). ‘Spurious Regression and Residual-Based Tests for Cointegration in Panel Data’, Journal of Econometrics, Vol. 90, No. 1, 144.Google Scholar
Kaplan, D. S. (2009). ‘Job Creation and Labor Reform in Latin America’, Journal of Comparative Economics, Vol. 37, 91105.Google Scholar
Kugler, A. and Pica, G. (2008). ‘Effects of Employment Protection on Worker and Job Flows: Evidence from the 1990 Italian Reform’, Labour Economics, Vol. 15, 7895.Google Scholar
Levine, R. and Renelt, D. (1992). ‘A Sensitivity Analysis of Cross-Country Growth Regressions’, American Economic Review, Vol. 82, 942963.Google Scholar
Mauro, P. (1995). ‘Corruption and Growth’, Quarterly Journal of Economics, Vol. 110, 681712.Google Scholar
Micco, A. and Pagés, C. (2006). ‘The Economic Effects of Employment Protection: Evidence from International Industry-Level Data’, IZA Discussion Paper No. 2433.Google Scholar
Nawaz, S. (2015). ‘Growth Effects of Institutions: A Disaggregated Analysis’, Economic Modelling, Vol. 45, 118126.Google Scholar
Nicoletti, G. and Scarpetta, S. (2003). ‘Regulation, Productivity and Growth: OECD Evidence’, Economic Policy, Vol. 18 , 972.Google Scholar
Rodrik, D., Subramanian, A. and Trebbi, F. (2004). ‘Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development’, Journal of Economic Growth, Vol. 9 , 131165.Google Scholar
Sala-i-Martin, X. (1997). ‘I Just Ran Two Million Regressions’, American Economic Review, Vol. 87, No. 2, 178183.Google Scholar
Sala-i-Martin, X., Doppelhofer, G. and Miller, R. I. (2004). ‘Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach’, American Economic Review, Vol. 94, 813835.Google Scholar
Stock, J. and Watson, M. (1993). ‘A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems’, Econometrica, Vol. 61, No. 4, 783820.Google Scholar
Vartia, L. (2008). ‘How Do Taxes Affect Investment and Productivity? An Industry-Level Analysis of OECD Countries’, OECD Economics Department Working Paper No. 656.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×