Anchoring Growth The Importance Of Productivity Enhancing Reforms In Emerging Market And Developing Economies

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Anchoring Growth

Author : Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze
Publisher : International Monetary Fund
Page : 36 pages
File Size : 53,9 Mb
Release : 2013-09-24
Category : Business & Economics
ISBN : 9781475524598

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Anchoring Growth by Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze Pdf

Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.

Anchoring Growth

Author : Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze
Publisher : International Monetary Fund
Page : 36 pages
File Size : 42,6 Mb
Release : 2013-09-24
Category : Business & Economics
ISBN : 9781616357290

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Anchoring Growth by Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze Pdf

Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.

Structural Reforms and Productivity Growth in Emerging Market and Developing Economies

Author : Ms.Era Dabla-Norris,Giang Ho,Ms.Annette Kyobe
Publisher : International Monetary Fund
Page : 35 pages
File Size : 42,5 Mb
Release : 2016-02-09
Category : Business & Economics
ISBN : 9781498306560

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Structural Reforms and Productivity Growth in Emerging Market and Developing Economies by Ms.Era Dabla-Norris,Giang Ho,Ms.Annette Kyobe Pdf

This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across countries at different stages of development, using a distance-to-frontier framework. It gauges whether particular policies and reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and developing economies (EMDEs) than others. Recognizing the possibility of time lags between reform implementation and reform payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term.

Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies

Author : Ms. Era Dabla-Norris,Giang Ho,Ms. Kalpana Kochhar,Annette Kyobe,Mr. Robert Tchaidze
Publisher : INTERNATIONAL MONETARY FUND
Page : 36 pages
File Size : 55,9 Mb
Release : 2013-12-11
Category : Business & Economics
ISBN : 1475546874

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Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies by Ms. Era Dabla-Norris,Giang Ho,Ms. Kalpana Kochhar,Annette Kyobe,Mr. Robert Tchaidze Pdf

Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.

Structural Reforms and Productivity Growth in Emerging Market and Developing Economies

Author : Era Dabla-Norris,Giang Ho,Annette Kyobe
Publisher : Unknown
Page : 35 pages
File Size : 49,9 Mb
Release : 2016
Category : Economic development
ISBN : 149830947X

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Structural Reforms and Productivity Growth in Emerging Market and Developing Economies by Era Dabla-Norris,Giang Ho,Annette Kyobe Pdf

"This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across countries at different stages of development, using a distance-to-frontier framework. It gauges whether particular policies and reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and developing economies (EMDEs) than others. Recognizing the possibility of time lags between reform implementation and reform payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term."-

Gone with the Headwinds

Author : Gustavo Adler,Mr.Romain A Duval,Davide Furceri,Sinem Kiliç Çelik,Ksenia Koloskova,Marcos Poplawski-Ribeiro
Publisher : International Monetary Fund
Page : 98 pages
File Size : 41,5 Mb
Release : 2017-04-03
Category : Business & Economics
ISBN : 9781475589825

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Gone with the Headwinds by Gustavo Adler,Mr.Romain A Duval,Davide Furceri,Sinem Kiliç Çelik,Ksenia Koloskova,Marcos Poplawski-Ribeiro Pdf

to come

Growth Accelerations and Reversals in Emerging Market and Developing Economies: The Role of External Conditions

Author : Bertrand Gruss,Mr.Malhar S Nabar,Marcos Poplawski-Ribeiro
Publisher : International Monetary Fund
Page : 39 pages
File Size : 50,8 Mb
Release : 2018-03-12
Category : Business & Economics
ISBN : 9781484345450

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Growth Accelerations and Reversals in Emerging Market and Developing Economies: The Role of External Conditions by Bertrand Gruss,Mr.Malhar S Nabar,Marcos Poplawski-Ribeiro Pdf

This paper investigates how country-specific external demand, external financial conditions, and terms of trade affect medium-term growth in Emerging Market and Developing Economies and the occurrence of growth accelerations and reversals. The importance of country-specific external conditions for medium-term growth has increased over time—in particular, the growing contribution of external financial conditions accounts for one-third of the increase in average income per capita growth between 1995–2004 and 2005–14. Stronger external demand and financial conditions significantly increase the probability of growth accelerations, while a strengthening of any of the three conditions significantly decreases the probability of reversals.

Emerging Markets in Transition

Author : Mr.Luis M. Cubeddu,Mr.Alexander Culiuc,Ms.Ghada Fayad,MissYuan Gao,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Ceyda Oner,Mr.Roberto Perrelli,Sarah Sanya,Ms.Evridiki Tsounta,Mr.Zhongxia Zhang
Publisher : International Monetary Fund
Page : 37 pages
File Size : 52,6 Mb
Release : 2014-06-12
Category : Business & Economics
ISBN : 9781498327664

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Emerging Markets in Transition by Mr.Luis M. Cubeddu,Mr.Alexander Culiuc,Ms.Ghada Fayad,MissYuan Gao,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Ceyda Oner,Mr.Roberto Perrelli,Sarah Sanya,Ms.Evridiki Tsounta,Mr.Zhongxia Zhang Pdf

After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the post-crisis peak of 2010-11, as well as the rates seen in the decade before the crisis. This raises the question of whether EMs can bounce back to the growth rates seen in the last decade or whether their prospects are dimmer than thought a few years ago. This SDN we will explore the drivers of the slowdown, how changes in external conditions that supported high growth in EMs will affect them over the medium term, and the policy priorities needed to sustain the growth rates seen in the past decades. In doing so, the paper differentiates EMs along various dimensions (e.g. degree of commodity dependence, trade and financial openness) to highlight the need to tailor policy priorities.

Structural Reform and Growth

Author : Kevin Greenidge,Mr.Meredith A. McIntyre,Hanlei Yun
Publisher : International Monetary Fund
Page : 32 pages
File Size : 48,7 Mb
Release : 2016-04-07
Category : Business & Economics
ISBN : 9781484321812

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Structural Reform and Growth by Kevin Greenidge,Mr.Meredith A. McIntyre,Hanlei Yun Pdf

Since the 1980’s with the introduction of IMF/WB adjustment programs structural reforms have been a core part of the reform agenda in the Caribbean. The paper reviewed the package of structural reforms in trade liberalization, financial liberalization and tax policy, and gauges their impact on growth. The paper used a set of reform indices to gauge both short-run and long-run effects of structural reforms on growth, controlling for other possible growth determinants using panel dynamic OLS estimation. In addition, recognizing the importance of institutions to growth the empirical analysis also analyzed the impact of institutional quality on growth for a sample of small states including the Caribbean. We concluded that the benefits of structural reforms are only seen over the long-term and in reinvigorating growth the reform effort needs to be revived and include greater attention to strengthening institutional quality.

Race to the Next Income Frontier

Author : Mr.Ali M. Mansoor,Salifou Issoufou,Mr.Daouda Sembene
Publisher : International Monetary Fund
Page : 430 pages
File Size : 44,9 Mb
Release : 2018-04-04
Category : Business & Economics
ISBN : 9781484303139

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Race to the Next Income Frontier by Mr.Ali M. Mansoor,Salifou Issoufou,Mr.Daouda Sembene Pdf

Through 18 chapters, this book draws on policy lessons from successful countries that have managed to overcome political economy constraints and reach upper-middle-income emerging market economy status to examine how Senegal can achieve per capita growth rates of four to five percent per year over a 20-year period, as well as lessons for other low-income countries. Contributors working in academia, civil society, and government in Senegal, as well as at the World Bank, in peer countries like Mauritius, Morocco, and Seychelles, and the International Monetary Fund, address creating a sound, balanced, and efficient fiscal framework through new revenue-raising measures, expenditure rationalization, and more efficient public investment; promoting an inclusive and deeper financial sector; relieving constraints on doing business and promoting private investment, including foreign direct investment; and achieving high, sustained, and inclusive growth. They discuss Senegal's macroeconomic environment and what it means to be an upper-middle-income emerging market economy, including the country's industrial framework, the Plan Senegal emergent growth targets, and dimensions of inclusive growth; revenue mobilization, public expenditure efficiency and rationalization, and debt sustainability; ways to make Senegal's financial system more stable, deeper, and more inclusive in the context of the West African Economic and Monetary Union; aspects of structural reform in the country and ways to implement reforms to achieve growth; and social inclusion and protection in Senegal.

Identifying Structural Reform Gaps in Emerging Europe, the Caucasus, and Central Asia

Author : Mr.Norbert Funke,Asel Isakova,Maksym Ivanyna
Publisher : International Monetary Fund
Page : 43 pages
File Size : 52,5 Mb
Release : 2017-03-30
Category : Business & Economics
ISBN : 9781475590616

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Identifying Structural Reform Gaps in Emerging Europe, the Caucasus, and Central Asia by Mr.Norbert Funke,Asel Isakova,Maksym Ivanyna Pdf

Using data from the World Economic Forum’s Global Competitiveness Report as an example, this paper compares structural indicators for 25 countries in Emerging Europe, the Caucasus, and Central Asia with a generic country with similar charactersitics that is 40 percent richer as well as a country with the average EU income. This comparison suggests that improvements will be particularly crucial in the areas of institutions, financial market development, infrastructure, goods and labor market efficiency and areas related to innovation. For the generally more ambitious goal of reaching average EU income, the reform needs are correspondingly larger. The methodology focuses on (approximate) comparisons between countries and does not try to establish the link between structural reforms and growth. While we test for changes in empirical specifications, caveats relate to the quality of structural indicators, possible non-linearities, and reform complementarities. The approach can be applied to other indicators and at a more granular level.

Structural Reforms and Macroeconomic Performance - Initial Considerations for the Fund

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 64 pages
File Size : 40,7 Mb
Release : 2015-10-14
Category : Business & Economics
ISBN : 9781498344111

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Structural Reforms and Macroeconomic Performance - Initial Considerations for the Fund by International Monetary Fund Pdf

Structural policies have become a prominent feature of today’s macroeconomic policy discussion. For many countries, lackluster economic growth and high unemployment cloud the outlook. With fewer traditional policy options, policymakers are increasingly focused on the complementary role of structural policies in promoting more durable job-rich growth. In particular, the G20 has emphasized the essential role of structural reforms in ensuring strong, sustainable and balanced growth. Against this backdrop, the 2014 Triennial Surveillance Review (TSR) called for further work to enhance the Fund’s ability to selectively provide more expert analysis and advice on structural issues, particularly where there is broad interest among member countries. The purpose of this paper is to engage the Board on staff’s post-TSR work toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues.

Structural Reforms and Firms’ Productivity: Evidence from Developing Countries

Author : Wilfried A. Kouamé,Mr.Sampawende J Tapsoba
Publisher : International Monetary Fund
Page : 42 pages
File Size : 47,5 Mb
Release : 2018-03-19
Category : Business & Economics
ISBN : 9781484347003

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Structural Reforms and Firms’ Productivity: Evidence from Developing Countries by Wilfried A. Kouamé,Mr.Sampawende J Tapsoba Pdf

This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.

Argentina

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 91 pages
File Size : 51,6 Mb
Release : 2017-12-29
Category : Business & Economics
ISBN : 9781484335833

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Argentina by International Monetary Fund. Western Hemisphere Dept. Pdf

This paper discusses whether there is a more efficient way of taxing labor in Argentina that has a minimal cost in terms of foregone revenues. Social security contributions for dependent workers are generally high in Argentina, despite the plethora of different regimes and exceptions. A reform of labor taxation in Argentina would need to address these inefficiencies. Reducing the tax wedge would stimulate employment and formalization, especially if targeted to low-paid workers, as there is evidence that it’s their employment that mostly responds to tax incentives. Argentina’s tax and transfer system appears to be less progressive than the estimated optimal one. The simulations suggest that the proposed changes would have a positive impact on economic activity and formality, with a minor cost in terms of foregone revenues. Greater labor supply and wages in the formal sector push up revenue from labor taxation, compensating part of the direct cost of the reform.

Perspectives on Economic Development

Author : Ryan Merlin Yonk,Vito Bobek
Publisher : BoD – Books on Demand
Page : 176 pages
File Size : 41,5 Mb
Release : 2020-06-03
Category : Business & Economics
ISBN : 9781789859379

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Perspectives on Economic Development by Ryan Merlin Yonk,Vito Bobek Pdf

Among the most discussed and contested areas of policy are those that surround economic development. Among the wide universe that is public policy, those policies that claim to enhance economic development have long been viewed as particularly important, and discussions over what the best approaches are have been varied, heated, and often at the core of the success or failure of governments. This volume explores how different policy environments impact economic development in light of the interplay with other factors. From discussion of tax policy in the Russian Federation, to the interplay of economic development and culture in Namibia, to the complex interplay between tourism and extractive industries in the United States, this volume explores a range of policy realities.