Structural Reforms to Set the Growth Ambition

Structural Reforms to Set the Growth Ambition

The effect of structural reforms on growth in Europe and Central Asia is assessed by looking separately at each supply-side channel: capital, labor, and productivity, with the last estimated using the stochastic frontier approach. By controlling fo...

Full description

Bibliographic Details
Main Author: Rovo, Natasha
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
STRUCTURAL REFORM
ECONOMIC GROWTH
LABOR PRODUCTIVITY
HUMAN CAPITAL
REGULATORY FRAMEWORK
GOVERNMENT EFFECTIVENESS
FINANCIAL DEVELOPMENT
EU ACCESSION
Online Access:http://documents.worldbank.org/curated/en/229781583758481770/Structural-Reforms-to-Set-the-Growth-Ambition
http://hdl.handle.net/10986/33424
id okr-10986-33424
recordtype oai_dc
spelling okr-10986-334242022-09-20T00:13:38Z Structural Reforms to Set the Growth Ambition Rovo, Natasha STRUCTURAL REFORM ECONOMIC GROWTH LABOR PRODUCTIVITY HUMAN CAPITAL REGULATORY FRAMEWORK GOVERNMENT EFFECTIVENESS FINANCIAL DEVELOPMENT EU ACCESSION The effect of structural reforms on growth in Europe and Central Asia is assessed by looking separately at each supply-side channel: capital, labor, and productivity, with the last estimated using the stochastic frontier approach. By controlling for the interaction with the economic cycle, the paper also investigates whether timing matters. Improvements in human capital, regulatory quality, and government effectiveness have the most impact on potential growth, along with financial development. European Union accession may also boost growth, mainly by encouraging capital deepening. However, changes in labor market regulation and tariffs may have ambiguous effects. Applying the results to Serbia, the analysis demonstrates that closing certain structural gaps with the frontier would help boost its potential. 2020-03-12T15:08:14Z 2020-03-12T15:08:14Z 2020-03 Working Paper http://documents.worldbank.org/curated/en/229781583758481770/Structural-Reforms-to-Set-the-Growth-Ambition http://hdl.handle.net/10986/33424 English Policy Research Working Paper;No. 9175 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Europe and Central Asia European Union Serbia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic STRUCTURAL REFORM
ECONOMIC GROWTH
LABOR PRODUCTIVITY
HUMAN CAPITAL
REGULATORY FRAMEWORK
GOVERNMENT EFFECTIVENESS
FINANCIAL DEVELOPMENT
EU ACCESSION
spellingShingle STRUCTURAL REFORM
ECONOMIC GROWTH
LABOR PRODUCTIVITY
HUMAN CAPITAL
REGULATORY FRAMEWORK
GOVERNMENT EFFECTIVENESS
FINANCIAL DEVELOPMENT
EU ACCESSION
Rovo, Natasha
Structural Reforms to Set the Growth Ambition
geographic_facet Europe and Central Asia
European Union
Serbia
relation Policy Research Working Paper;No. 9175
description The effect of structural reforms on growth in Europe and Central Asia is assessed by looking separately at each supply-side channel: capital, labor, and productivity, with the last estimated using the stochastic frontier approach. By controlling for the interaction with the economic cycle, the paper also investigates whether timing matters. Improvements in human capital, regulatory quality, and government effectiveness have the most impact on potential growth, along with financial development. European Union accession may also boost growth, mainly by encouraging capital deepening. However, changes in labor market regulation and tariffs may have ambiguous effects. Applying the results to Serbia, the analysis demonstrates that closing certain structural gaps with the frontier would help boost its potential.
format Working Paper
author Rovo, Natasha
author_facet Rovo, Natasha
author_sort Rovo, Natasha
title Structural Reforms to Set the Growth Ambition
title_short Structural Reforms to Set the Growth Ambition
title_full Structural Reforms to Set the Growth Ambition
title_fullStr Structural Reforms to Set the Growth Ambition
title_full_unstemmed Structural Reforms to Set the Growth Ambition
title_sort structural reforms to set the growth ambition
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/229781583758481770/Structural-Reforms-to-Set-the-Growth-Ambition
http://hdl.handle.net/10986/33424
_version_ 1764478732111708160

Similar Items