The International Maritime Organization (IMO) announced in April 2018 a target of cutting greenhouse gas (GHG) emissions from the sector by 50 percent below 2008 levels by 2050 and subsequent meetings of the IMO will develop a strategy for making headway on this commitment. This paper seeks to...

This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...

This paper finds a negative relationship between the employment share of the service sector and the volatility of aggregate output in the OECD — after controlling for the level of financial development. This result reflects volatility differentials across sectors: labor productivity is more...

This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials...

This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking...

This paper describes issues in Korea's corporate sector, the need for restructuring, and the authorities' initiatives and challenges. It then identifies lessons from other countries' experience and conducts an econometric analysis based on cross-country aggregate data,compared with previous...

This paper takes a fresh look at the current theories of structural transformation and the role ofprivate and public fundamentals in the process. It summarizes some representative past andcurrent experiences of various countries vis-a-vis structural transformation with a focus on theroles of...