On The Measurement of   Market-Oriented Reforms

Loayza, Norman V.; Soto, Raimundo

On The Measurement of Market-Oriented Reforms

2003

Loayza, Norman V. | Soto, Raimundo

This paper presents policy-and outcome-based ways of measuring the progress of market-oriented reforms in both traditional areas of first-generation reform and the areas of institutional reform that have been emphasized lately. These policy areas are the domestic financial system; international financial markets; international trade; the labor market; the tax system; public infrastructure and public firms; the legal and regulatory framework; and governance. For each of them, first, we discuss the general principles underlying market-oriented reform; second, we present various indicators of the policy stance in the area in question; and third, we present various outcome indicators of the policy stance.

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accounting agriculture arbitrage assets balance of payments bankruptcy capital market commercial banks consumers debt development banks domestic production economic development economic growth employment exchange rate exports financial institutions fiscal policies fishing foreign firms foreign investment free trade globalization governance government intervention growth models imports inflation infrastructure insurance interest rates international trade labor privatization profitability public debt savings state intervention structural change taxation trade agreements trade liberalization transport

Información bibliográfica

Editorial

World Bank, Washington, D.C.

Otras materias

Overvalued exchange rates; Market failures; Anti-competitive practices; Financial systems; Wealth; Financial crisis; Financial assets; International financial integration; Central banks; Financial reform; Corporate control; Producers; Average tariff; Market share; Monetary regime; Gdp; Financial internationalization; Tariff rate; Capitalization; Political economy; Financial transactions; Portfolios; Disequilibrium; Deregulation; Macroeconomic growth; Financial crises; Trade policy; Currency; Average tariffs; Macroeconomic policy; Economies of scale; Benchmark; Macroeconomic stability; Domestic producers; Exchange rates; Financial sector; Total factor productivity; Financial integration; Measure of trade; Specialization; Exporters; Globalization of financial markets; Monetary stability; Economic activity; Moral hazard; Uniform tariffs; External shocks; Trade agreement; Cost of capital; Interest rate; Comparative advantages; Central bank; Capital markets; Private sector development; External trade; Financial deregulation; Monetary authorities; Transport costs; Risk taking; Domestic finance; Contagion; Capital flows; Positive effects; Natural monopolies; Tariff rates; World trade organizational change; Trade reform; Leading indicators; Financial resources; Disclosure of information; Real gdp; Regulatory framework; Profit margins; Trade partners; Private banks; Capital account; Bankruptcy law; State banks; Mandates; Transparency; Economic efficiency; Aggregate consumption; Asset prices; Value of imports; Quotas; Macroeconomic balance; Lending rates; Foreign exchange; International markets; Empirical evidence; Private commercial banks; Comparative advantage; Trade flows; Financial regulation; Stock markets; Commercial credits; Productivity growth; Monetary policy; Tariff barriers; Trade opening; Current account; Free access; Demand deposits; Liquidation; Incomplete markets; Capital flight; Forecasts; Adverse selection; Financial services; Policy instruments; Equity investments; Excess demand; Import duties; Financial markets; Customs fees; Risk premia; Bonds; Preferential treatment; Domestic industry; Trade intensity; Prudential regulations; Gravity model; Real exchange rate; Price inflation; Bank runs; Foreign direct investment; Foreign assets; Trade openness; Foreign banks; Insurance markets; Public sector management; Overvaluation; Domestic market; Trade reforms; Reserve requirements; Closed economies

Licencia

Policy Research Working Paper;No.3371http://creativecommons.org/licenses/by/3.0/World BankCC BY 3.0 Unported

Fuente

Policy Research Working Paper;No.3371

En AGRIS desde: 2014-09-15

Formato: AGRIS AP

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Este registro bibliográfico ha sido proporcionado por World Bank

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Enlaces

http://hdl.handle.net/10986/14160

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On The Measurement of Market-Oriented Reforms

2003

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