Campos, Nauro F.; Hsiao, Cheng; Nugent, Jeffrey B. - 2006
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster … macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises … that are the most important drivers of structural reforms? To answer this question we put forward evidence on trade and …