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Assessing the Impact of Structural Reforms Through a Supply-side Framework
The Case of Argentina

by Lusine Lusinyan

Series:Working Paper No. 18/183
ISBN 9781484362990
Code: #WPIEA2018183

Publication year: 2018

Cdn: $27.00; US: $23.50
Paperback
Language: English
29 pages
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The paper uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina. The impact of product, labor, trade, and tax reforms on each supply-side channel—capital accumulation, labor utilization, and total factor productivity, proxied with an efficiency estimate—is assessed separately and then combined to derive the total impact on growth. The largest effect of structural reforms, involving regulatory changes that promote competition and facilitate flexible forms of employment, comes through the productivity/efficiency channel. Pro-competition regulation also improves labor utilization, while lower entry barriers and trade tariffs are important for capital accumulation. Structural reforms could have substantial effects on Argentina’s long-term GDP growth; for example, an ambitious reform effort to improve business regulatory environment would add 1–1½ percent to average annual growth of GDP.
Assessing the Impact of Structural Reforms Through a Supply-side Framework
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123290 Added: 2018.8.5