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| Author: | Skogstad, S. L. Everhart, S. S. |
| Title: | Speed of policy reform and outcomes |
| Journal: | American Economic Review
1997 : MAY, VOL. 82:2, p. 58-62 |
| Index terms: | DEVELOPING COUNTRIES LOCAL GOVERNMENT POLICY CHANGE ECONOMIC GROWTH |
| Language: | eng |
| Abstract: | Economists working in developing countries often advise the governments that policy reform is necessary condition for realization of potential growth. The governments argue that reforms must be introduced slowly, a few at a time rather than comprehensively within a short period. There is only little empirical evidence on the relationships between specific policy reforms and growth. This paper identifies empirical regularities in the movements of real per capita GDP growth and five measures of economic policy. The proposition examined is that periods of stagnation or decay of per capita GDP will be longer and more severe, the greater the departure of policy from norms such as those outlined in "Washington consensus". |
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