Reform redux: measurement, determinants and reversals

Arbeitspapier

We construct objective measures of privatization, internal and external liberalization reform efforts, across countries over time, and investigate their determinants, reversals and macroeconomic impacts. We find that GDP growth determines external liberalization and privatization, concentration of political power drives internal liberalization, and democracy underpins all three. We find that FDI inflows reduce the probability of privatization reversals, labour strikes increase that of internal liberalization reversals, and OECD growth increase that of external liberalization reversals. We replicate previous studies and find that the macroeconomic effects of reform (when measured objectively) tend to be larger and more precisely estimated.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 2093

Classification and Topics

• Classification: Wirtschaft ; Macroeconomics: Production ; Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior ; Tax Evasion and Avoidance ; Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
• Subject: reform : liberalization ; privatization ; political economy ; transition ; Systemtransformation ; Politische Reform ; Deregulierung ; Kapitalmarktliberalisierung ; Direktinvestition ; Transformationsstaaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Campos, Nauro F. ; Horváth, Roman
• Event: Veröffentlichung
• (who): Institute for the Study of Labor (IZA)
• (where): Bonn
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/33642