Detail publikace

Reform Redux: Measurement, Determinants and Reversals

Autor: prof. Roman Horváth Ph.D., Nauro F. Campos
Typ: Ostatní
Rok: 2006
Číslo: 0
Publikováno v: CEPR Discussion Papers, No. 5673 (also in IZA DP, No. 2093 and IES WP, No. 16/06)
Místo vydání:
Klíčová slova: reform, liberalization, privatization, political economy, transition
JEL kódy: E23, D72, H26, O17
Citace: Campos, Nauro and Horvath, Roman. 2006. Reform Redux: Measurement, Determinants and Reversals, CEPR Discussion Papers, No. 5673.
Abstrakt: 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 terms of trade shocks 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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