reform data for six policy areas compiled from various sources during the period 1994-2006 for over 100 countries, we compute …-wise complementarities among policy areas. We then use cross-section and panel data estimates to test the effect of reform level and … institutional variables, as well as endogeneity of reform level and complementarity. We show that the effect of policy …

for monetary policy can be noticeably different. Retaining an ad hoc loss function – discretionary choice – in place of an …

policy-commodity prices nexus. Finally, the last chapter reflects on the ability of the banking system to help the country …

countries using positive changes in the Country Policy and Institutional Assessment of the World Bank and the International … Country Risk Guide as signaling improvements in economic policy and governance. We find that both structural and cyclical … effects matter. The cyclical effect suggests that mid-term is the best moment for policy change. We investigate the structural …