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Structural Reforms and Regional Convergence / Antonio Spilimbergo, Natasha Che.
- Format:
- Book
- Government document
- Author/Creator:
- Spilimbergo, Antonio.
- Series:
- IMF Working Papers; Working Paper ; No. 2012/106
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Structural adjustment (Economic policy)--Econometric models.
- Structural adjustment (Economic policy).
- Convergence (Economics)--Econometric models.
- Convergence (Economics).
- Economic development--Econometric models.
- Economic development.
- Physical Description:
- 1 online resource (35 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2012.
- Language Note:
- English
- Summary:
- Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected labor market reforms facilitate regional convergence. However, these reforms have mixed effects on the growth of regions closer to the country’s development frontier. We also document that regional income disparity and average income are inversely correlated across countries so that speeding up regional convergence increases national income. We also present a theoretical model to discuss these results.
- Contents:
- Cover; Structural Reforms and Regional Convergence; I. INTRODUCTION; Figure 1: Regional GDP dispersion by country (1995-2005); TABLES; Table 1: Comparison between hypothetical and actual GDP (1995-2005); FIGURES; Figure 2: Correlation between regional GDP dispersion and country GDP level; II. Data; Table 2: Summary Statistics and Regional Beta Convergence by Country; Table 3: Summary Statistics of the Structural Reform and Institutional Variables; III. ESTIMATION MODEL AND RESULTS; A. Theoretical Model; Table 4: Summary statistics of regional variables; B. Empirical Model
- C. Baseline Estimation ResultsTable 5: Baseline regression results-financial development & trade liberalization; Table 6: Baseline regression results- Current account liberalization and inflation; Table 7: Baseline regression results-Unemployment Benefit and labor tax wedge; Table 8: Baseline regression results- Minimum wage and severance payment; Table 9: Baseline regression results- Long term institutional factors; Table 10: Magnitudes of SR impact on regional growth; IV. EXTENSIONS AND ROBUSTNESS CHECKS; A. Annual Estimation; Table 11: SR and regional convergence
- annual estimation
- B. Regional Allocative Efficiency and Structural CoherenceTable 12: SR and convergence, controlling for allocative efficiency and structural coherence; C. Structural Reform and Potential Productivity Growth; Table 13: SR effect on potential productivity growth; D. Productivity Convergence; Table 14: SR and regional productivity convergence; E. Endogeneity of Structural Reforms; Table 15: SR and convergence (IV estimates); V. CONCLUSION; APPENDIX A: STRUCTURAL REFORM (SR) VARIABLES; APPENDIX B: THEORETICAL MODEL; Reference
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed June 15, 2014).
- ISBN:
- 9781475568059
- 1475568053
- 9781475554939
- 1475554931
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