Structural Reforms to Set the Growth Ambition

Rovo, Natasha

World Bank, Washington, DC

关键词: STRUCTURAL REFORM;    ECONOMIC GROWTH;    LABOR PRODUCTIVITY;    HUMAN CAPITAL;    REGULATORY FRAMEWORK;   

DOI  :  10.1596/1813-9450-9175
RP-ID  :  WPS9175

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The effect of structural reforms ongrowth in Europe and Central Asia is assessed by lookingseparately at each supply-side channel: capital, labor, andproductivity, with the last estimated using the stochasticfrontier approach. By controlling for the interaction withthe economic cycle, the paper also investigates whethertiming matters. Improvements in human capital, regulatoryquality, and government effectiveness have the most impacton potential growth, along with financial development.European Union accession may also boost growth, mainly byencouraging capital deepening. However, changes in labormarket regulation and tariffs may have ambiguous effects.Applying the results to Serbia, the analysis demonstratesthat closing certain structural gaps with the frontier wouldhelp boost its potential.