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This paper investigates the impact of structural reforms on productivity growth. A panel analysis of 20 OECD countries finds that the impact of structural reforms on productivity growth may be weak or negative in the short run, possibly due to adjustment costs and the need for firms to learn how to operate in a less regulated and more competitive environment. In the long run, however, structural reforms are found to have significantly positive effects on productivity growth.

Finance: General --- Macroeconomics --- Production and Operations Management --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Macroeconomics: Production --- Macroeconomic Aspects of International Trade and Finance: Other --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Comparative Studies of Countries --- Institutions and the Macroeconomy --- General Financial Markets: General (includes Measurement and Data) --- Labor Economics: General --- Finance --- Labour --- income economics --- Structural reforms --- Productivity --- Total factor productivity --- Commodity markets --- Labor --- Macrostructural analysis --- Financial markets --- Industrial productivity --- Commodity exchanges --- Labor economics --- United States

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South Asia’s Path to Resilient Growth highlights the remarkable development progress in South Asia and how the region can advance in the aftermath of the COVID-19 pandemic. Steps include a renewed push toward greater trade and financial openness, while responding proactively to the distributional impact and dislocation associated with this structural transformation. Promoting a green and digital recovery remains important. The book explores ways to accelerate the income convergence process in the region, leveraging on the still-large potential demographic dividend in most of the countries. These include greater economic diversification and export sophistication, trade and foreign direct investment liberalization and participation in global value chains amid shifting regional and global conditions, financial development, and investment in human capital.

Macroeconomics --- Banks and Banking --- Exports and Imports --- Labor --- Public Finance --- Environmental Economics --- Money and Monetary Policy --- Foreign Exchange --- Central Banks and Their Policies --- Climate --- Natural Disasters and Their Management --- Global Warming --- Trade: General --- Trade Policy --- International Trade Organizations --- Monetary Policy --- Economics of Gender --- Non-labor Discrimination --- Economic & financial crises & disasters --- Banking --- International economics --- Public finance & taxation --- Labour --- income economics --- Climate change --- Financial crises --- Central banks --- International trade --- Environment --- Health --- Monetary policy --- Currency crises --- Banks and banking, Central --- Climatic changes --- Exports --- Manpower policy --- Saving and investment --- India

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The Asia-Pacific region continues to be the world leader in growth, and recent data point to a pickup in momentum. We expect the region to expand by 5.5 percent in 2017, up from 5.3 percent in 2016. Accommodative policies will underpin domestic demand, offsetting tighter global financial conditions. However, the risks to the outlook, on balance, are slanted to the downside. A possible shift toward protectionism in major trading partners could suppress Asia’s trade, while the continued tightening of global financial conditions and economic uncertainty could trigger capital flow volatility. A bumpier-than-expected transition in China would also have large negative spillovers to the region. Beyond the short term, many parts of Asia face secular headwinds from population aging and slow productivity growth. These challenges call for domestic policies that support growth while boosting resilience and inclusiveness. To sustain long-term growth, structural reforms are needed to deal with challenges from demographic transition and to boost productivity.

Asia --- Pacific Area --- Asia-Pacific Region --- Asian-Pacific Region --- Asian and Pacific Council countries --- Pacific Ocean Region --- Pacific Region --- Pacific Rim --- Eastern Hemisphere --- Eurasia --- Economic conditions --- Inflation --- Labor --- Macroeconomics --- Production and Operations Management --- Demography --- Macroeconomics: Production --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Demographic Economics: General --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Population & demography --- Economic & financial crises & disasters --- Labour --- income economics --- Monetary economics --- Productivity --- Aging --- Labor productivity --- Population and demographics --- Total factor productivity --- Industrial productivity --- Population aging --- Population --- Demographic transition --- United States

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This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and financial linkages in inducing financial crises for a sample of 61 emerging market and industrial countries. A panel probit estimation finds these economic indicators to be significant for emerging market countries during the Mexican, Asian, and Russian crises. In particular, the indicators of vulnerability to international financial spillover (common creditor) and of financial fragility (reserve adequacy) are highly significant and appear to explain the apparent regional concentration of these crises. Exchange rate regimes and capital controls, however, do not seem to matter.

Finance: General --- Financial Risk Management --- Foreign Exchange --- Macroeconomics --- Current Account Adjustment --- Short-term Capital Movements --- International Lending and Debt Problems --- Open Economy Macroeconomics --- International Financial Markets --- General Financial Markets: General (includes Measurement and Data) --- Financial Crises --- Finance --- Economic & financial crises & disasters --- Currency --- Foreign exchange --- Emerging and frontier financial markets --- Financial crises --- Exchange rate arrangements --- Currency crises --- Currency markets --- Financial markets --- Financial services industry --- Foreign exchange market --- Brazil