The impact of structural reforms on productivity and economic growth

• Κύριος συγγραφέας: Μαυρόγιαννης, Χρήστος
• Άλλοι συγγραφείς: Mavrogiannis, Christos
• Γλώσσα: English
• Έκδοση: 2021
• Θέματα: Reforms; Regulatory framework; Growth; Productivity; Μεταρρυθμίσεις; Ρυθμιστικό πλαίσιο; Μεγέθυνση; Παραγωγικότητα

Structural reforms are fundamentally actions that alter the structure of an economy, changing the institutional and regulatory framework within which firms and individuals function. The recent economic crisis exposed certain weaknesses in the worldwide economy creating the need for more flexible and deregulated markets in order to increase growth and productivity. By using macro-economic data from the World Bank and OECD as well as OECD regulation indices and World Bank governance indicators this dissertation studies the impact that strict regulatory framework has on growth, productivity, and employment rate. The analysis is based on panel data for OECD countries from 1990 to 2019 and the main results suggest that reforms which are focusing on the deregulation of the labour and product market, governance and regulatory framework have a positive impact on productivity and economic growth.