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| Author: | Macedo, J.B. de Martins, J.O. |
| Title: | Growth, reform indicators and policy complementarities |
| Journal: | Economics of transition
2008 : VOL. 16:2, p. 141-164 |
| Index terms: | economic growth transition economies panel data structural change reforms policy European Union |
| Language: | eng |
| Abstract: | By applying 2nd-best results to reform indicators, this paper aims to assess the growth implications of policy complementarities (hereafter as: compl./compls). During the transition from central planning to EU integration, the by the European Bank for Reconstruction and Development (EBRD) collected complimentarity index based on structural indicators decreases and then increases while the level of reforms tends to rise all through. Based on panel data for 27 countries from 1989 to 2004, the extent of macroeconomic stabilization and endogeneity, the level of reforms and changes are found to be positively related to output growth. |
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