Structural Reforms and Labor Reallocation: A Cross-Country Analysis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structural Reforms and Labor Reallocation: A Cross-Country Analysis write by Khalid ElFayoumi. This book was released on 2018-03-19. Structural Reforms and Labor Reallocation: A Cross-Country Analysis available in PDF, EPUB and Kindle. Institutional and market frictions impose costs on the reallocation of labor from low to high productivity sectors, leading to suboptimal allocations and a loss in aggregate labor productivity. Using cross-country sector-level data, we use a dynamic panel error correction model to compute the speed of sectoral labor adjustment, as well as the contribution of structural reforms in governance, labor and product markets, trade and openness, and the financial sector to lowering the costs of labor reallocation. We find that, on average, sectoral employment shares converge towards equilibrium allocations, closing about 13.7 percent of labor productivity gaps each year; this speed of labor adjustment varies across sectors and income groups. On structural reforms, we find a significant association between more efficient labor reallocation and financial market liberalization, less bureaucracy, strong judicial and regulatory environment, trade liberalization, better education and more flexible labor and product markets.
Structural Reforms and Firms’ Productivity: Evidence from Developing Countries
Structural Reforms and Firms’ Productivity: Evidence from Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structural Reforms and Firms’ Productivity: Evidence from Developing Countries write by Wilfried A. Kouamé. This book was released on 2018-03-19. Structural Reforms and Firms’ Productivity: Evidence from Developing Countries available in PDF, EPUB and Kindle. 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.
Structural Reforms and Economic Performance in Advanced and Developing Countries
Structural Reforms and Economic Performance in Advanced and Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structural Reforms and Economic Performance in Advanced and Developing Countries write by Mr.Jonathan David Ostry. This book was released on 2009-10-15. Structural Reforms and Economic Performance in Advanced and Developing Countries available in PDF, EPUB and Kindle. This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Growth and Structural Transformation
Growth and Structural Transformation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Growth and Structural Transformation write by Kwang Suk Kim. This book was released on 2020-03-17. Growth and Structural Transformation available in PDF, EPUB and Kindle. This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Assessing Job Flows Across Countries
Assessing Job Flows Across Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Assessing Job Flows Across Countries write by John C. Haltiwanger. This book was released on 2006. Assessing Job Flows Across Countries available in PDF, EPUB and Kindle. This paper reviews the process of job creation and destruction across a sample of 16 industrial and emerging economies over the past decade. It exploits a harmonized firm-level data set drawn from business registers and enterprise census data. The paper assesses the importance of technological factors that characterize different industries in explaining cross-country differences in job flows. It shows that industry effects play an important role in shaping job flows at the aggregate level. Even more importantly, differences in the size composition of firms-within each industry-explain a large fraction of the overall variability in job creation and destruction. However, even after controlling for industry/technology and size factors there remain significant differences in job flows across countries that could reflect differences in business environment conditions. The authors look at one factor shaping the business environment, namely, regulations on hiring and firing of workers. To minimize possible endogeneity and omitted variable problems associated with cross-country regressions, we use a difference-in-difference approach. The empirical results suggest that stringent hiring and firing costs reduce job turnover, especially in those industries that require more frequent labor adjustment. Regulations also distort the patterns of industry/size flows. Within each industry, medium and large firms are more severely affected by stringent labor regulations, while small firms are less affected, probably because they are partially exempted from such regulations or can more easily circumvent them.
