The present fiscal di fficulties of many countries amplify the call for structural reforms. To provide stylized facts on how reforms worked in the past, we quantitatively review 60 studies estimating the relation between reforms and growth. These studies examine structural reforms carried out in...

Why are socially beneficial reforms not implemented? One simple answer to this question (which has received little attention in the literature) is that this may be caused by generalized uncertainty about the effectiveness of reforms. If agents are unsure about whether a proposed reform will...

Using a growth accounting framework, we find that developing Asia grew rapidly over the past 3 decades mainly due to robust growth in capital accumulation. The contributions of education and total factor productivity in the region's past economic growth remain relatively limited. Our baseline...

The study reveals that there is a relationship between foreign direct investments, trade, and growth rate of per capita GDP for Bangladesh with the help of annual time series data for 1973 to 2014. The Vector Error Correction Model (VECM) analysis shows that there is a long-term relationship...

This paper analyzes the factors associated with economic growth in Myanmar by extending the Trade-FDI-led growth model with human capital and financial development through a Vector Error Correction Model (VECM). Vector Error Correction Model is a form of Vector Autoregressive, which has...

The purpose of this paper is to test whether institutional governance and its performance is a main driving force to achieve a positive relationship between natural resources and economic growth in the long run. The main objective is to ascertain what kind of institutional governance would be...

The central question addressed by this study is whether countries with above-average governance grew faster than countries with below-average governance. Using the World Bank's worldwide governance indicators to measure governance performance, it examines whether a country with governance...

Growth empirics with institutional measures is performed for 25 transition countries overthe period 1990-95. Estimation results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment (FDI), the latter in turnbeing important for the...

Support for economic reforms has often shown puzzling dynamics: there are many examples of reforms that started off successfully but nevertheless lost public support, and vice versa. We show that learning dynamics can rationalize this apparent paradox, the reason being that the process of...

Following the collapse of planning, new small and medium-sized firms rapidly emerged in all transition economies. Using firm level data, we investigate the interaction between the widespread opportunities for new business activities such firms faced and their business environment. The business...