Structural Reforms and Fiscal Sustainability

Furceri, Davide; Jalles, João Tovar

doi:10.1017/9781108782517.010

Economic Growth and Structural Reforms in Europe 2020

DOI: 10.1017/9781108782517.010

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Structural Reforms and Fiscal Sustainability

Davide Furceri¹,

João Tovar Jalles²

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2022

2024

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Cited by 3 publications

(1 citation statement)

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“…This is because privatization is likely to take place when a more pro-market government comes to power with a stronger liberalization policy agenda, which includes the privatization of many publicly owned enterprises. As supporting evidence, the correlation between product market reforms and privatization of these two sectors is high, at 50.4 percent (OECD 2023).12 The estimates may be biased due to possible endogeneity issues, as discussed below.13 These results are in line with the findings byFurceri and Jalles (2020), who use an older version of the same set of reform indicators ending in 2003. ©International Monetary Fund.…”

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confidence: 67%

Market Reforms and Public Debt Dynamics in Emerging Market and Developing Economies

Aligishiev

2023

Staff Discussion Notes

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mentioning

confidence: 67%

Market Reforms and Public Debt Dynamics in Emerging Market and Developing Economies

Aligishiev

2023

Staff Discussion Notes

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Effect of Tax Structure Reform on Public Debt in Developing Countries

Gnangnon

2022

CESifo Economic Studies

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To reduce their public revenue dependence on international trade tax revenue, policymakers in developing countries have engaged (with the assistance of international financial institutions and bilateral donors) in the reform of their tax revenue structure, with a view to reducing their public revenue dependence on international trade tax revenue. This reform (referred to as tax reform) is particularly important given the ongoing unavoidable trade liberalization that sooner or later further erode international trade revenue. Using an unbalanced panel dataset of 127 countries over the period 1980–2019, and the two-step system generalized method of moments, the present article investigates the public debt effect of this tax reform. The empirical analysis has shown that a greater extent of tax reform helps to reduce public debt, with the magnitude of this negative effect being larger in countries with a high share of non-resource tax revenue in public revenue. In addition, the public debt reduction effect of tax reform is larger, the greater is countries’ share of international trade tax revenue in non-resource tax revenue. This analysis has important policy implications. (JEL codes: H63, H10, and H20)

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International monetary fund conditionality and structural reforms: Evidence from developing countries

Apeti,

Gomado

2024

Econ of Transit and Inst Chang

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The global economy, dominated by the consequences of a disastrous health crisis and international tensions, needs policy support to regain its growth dynamic. To regain an inclusive and sustainable growth dynamic, structural policies of governments are needed to allow a reallocation of resources and to stimulate productivity. International cooperation seems to be necessary and the IMF's contribution could play an important role in promoting reforms. Indeed, in IMF‐supported programmes, the conditions for developing countries' transition to liberalization and open markets are often common. We address the question of whether periods of International Monetary Fund (IMF) conditionality contribute to the promotion of structural reforms in developing countries. Through the entropy balancing method and alternative identification strategies, we show that IMF conditionality programmes promote structural reforms in developing countries. We show that the effect of IMF conditionality can vary depending on the type of conditionality, the type of reform, the time frame and the initial level of structural reforms and can depend on some structural factors including the business cycle, the quality of fiscal and monetary policy, the level of development and the quality of institutions. Furthermore, we show that IMF conditionality can have spillover effects on trading partners and that IMF conditionality programmes that are met tend to have a greater impact on structural reforms. Finally, the effects of adopting reforms under IMF conditionality depend on domestic partisan politics.

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Structural Reforms and Fiscal Sustainability

Cited by 3 publications

References 41 publications

Market Reforms and Public Debt Dynamics in Emerging Market and Developing Economies

Market Reforms and Public Debt Dynamics in Emerging Market and Developing Economies

Effect of Tax Structure Reform on Public Debt in Developing Countries

International monetary fund conditionality and structural reforms: Evidence from developing countries

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