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

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

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Bibliographic Details
Author / Creator:Funke, Norbert, author.
Imprint:Washington, D.C. : International Monetary Fund, 2017.
Description:1 online resource (44 pages)
Language:English
Series:IMF Working paper, 1018-5941 ; WP/17/82
IMF working paper ; WP/17/82.
Subject:
Monetary policy -- Europe -- Econometric models.
Monetary policy -- Caucasus -- Econometric models.
Monetary policy -- Asia, Central -- Econometric models.
Business cycles -- Econometric models.
Economics -- Psychological aspects -- Econometric models.
Business cycles -- Econometric models.
Monetary policy -- Econometric models.
Central Asia.
Caucasus.
Europe.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11705360
Hidden Bibliographic Details
Other authors / contributors:Isakova, Asel, author.
Ivanyna, Maksym, author.
ISBN:9781475590654
1475590652
147559061X
9781475590616
Notes:Figure 4. GCR and Doing Business Score Gaps ComparedFigure 5: Reform Gaps: OLS vs. Stochastic Frontier.
Includes bibliographical references and index.
Print version record.
Summary: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.
Other form:Print version: Funke, Norbert. Identifying Structural Reform Gaps in Emerging Europe, the Caucasus, and Central Asia. Washington, D.C. : International Monetary Fund, ©2017 9781475590616
Standard no.:10.5089/9781475590616.001
Table of Contents:
  • Cover; CONTENTS; Abstract; I. Introduction; II. Structural Reform Gaps: Estimation; III. Benchmarking: Results; IV. Reform Gaps Disaggregated; V. Robustness Checks; V.1 Reform Gaps over Time and across Income Groups; V.2 Reform Gaps with Doing Business Indicators; V.3 Reform Gaps Using Stochastic Frontier Analysis; V.4 Reform Gaps: Additional Alternative Specifications; VI. Conclusions; References; TABLES; Table 1. Regression Results: Initial Specification.
  • Table 2. Reform Needs Based on Comparing Structural Reform Indicators in Emerging ECA Relative to a Generic Country with 40 Percent Higher per Capita IncomeTable 3. Reform Needs Based on Benchmarking Structural Reform Indicators in Emerging ECA Relative to EU Average Income; Table 4. Largest Reform Gaps at a More Disaggregated Level; Table 5. GCR and. Doing Business Indicators Gaps; FIGURES; Figure 1. GCR score and GDP per capita in 2015; Figure 2. Global Competitiveness and Real GDP Per Capita, 2015; Figure 3. Reform Gaps: Comparing Structural Reform Indicators to Various Benchmarks.

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