On The Measurement of Market-Oriented Reforms

This paper presents policy-and outcome-based ways of measuring the progress of market-oriented reforms in both traditional areas of first-generation reform and the areas of institutional reform that have been emphasized lately. These policy areas are the domestic financial system; international financial markets; international trade; the labor market; the tax system; public infrastructure and public firms; the legal and regulatory framework; and governance. For each of them, first, we discuss the general principles underlying market-oriented reform; second, we present various indicators of the policy stance in the area in question; and third, we present various outcome indicators of the policy stance.

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Bibliographic Details
Main Authors: Loayza, Norman V., Soto, Raimundo
Language:English
en_US
Published: World Bank, Washington, D.C. 2003-12
Subjects:ACCOUNTING, ADVERSE SELECTION, AGGREGATE CONSUMPTION, AGRICULTURE, ANTI-COMPETITIVE PRACTICES, ARBITRAGE, ASSET PRICES, ASSETS, AVERAGE TARIFF, AVERAGE TARIFFS, BALANCE OF PAYMENTS, BANK RUNS, BANKRUPTCY, BANKRUPTCY LAW, BENCHMARK, BONDS, CAPITAL ACCOUNT, CAPITAL FLIGHT, CAPITAL FLOWS, CAPITAL MARKET, CAPITAL MARKETS, CAPITALIZATION, CENTRAL BANK, CENTRAL BANKS, CLOSED ECONOMIES, COMMERCIAL BANKS, COMMERCIAL CREDITS, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, CONSUMERS, CONTAGION, CORPORATE CONTROL, COST OF CAPITAL, CURRENCY, CURRENT ACCOUNT, CUSTOMS FEES, DEBT, DEMAND DEPOSITS, DEREGULATION, DEVELOPMENT BANKS, DISCLOSURE OF INFORMATION, DISEQUILIBRIUM, DOMESTIC INDUSTRY, DOMESTIC MARKET, DOMESTIC PRODUCERS, DOMESTIC PRODUCTION, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIES OF SCALE, EMPIRICAL EVIDENCE, EMPLOYMENT, EQUITY INVESTMENTS, EXCESS DEMAND, EXCHANGE RATE, EXCHANGE RATES, EXPORTERS, EXPORTS, EXTERNAL SHOCKS, EXTERNAL TRADE, FINANCIAL ASSETS, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL DEREGULATION, FINANCIAL INSTITUTIONS, FINANCIAL INTEGRATION, FINANCIAL INTERNATIONALIZATION, FINANCIAL MARKETS, FINANCIAL REFORM, FINANCIAL REGULATION, FINANCIAL RESOURCES, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SYSTEMS, FINANCIAL TRANSACTIONS, FISCAL POLICIES, FISHING, FORECASTS, FOREIGN ASSETS, FOREIGN BANKS, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN FIRMS, FOREIGN INVESTMENT, FREE ACCESS, FREE TRADE, GDP, GLOBALIZATION, GLOBALIZATION OF FINANCIAL MARKETS, GOVERNMENT INTERVENTION, GRAVITY MODEL, GROWTH MODELS, IMPORT DUTIES, IMPORTS, INCOMPLETE MARKETS, INFLATION, INSURANCE, INSURANCE MARKETS, INTEREST RATE, INTEREST RATES, INTERNATIONAL FINANCIAL INTEGRATION, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, LEADING INDICATORS, LENDING RATES, LIQUIDATION, M2, MACROECONOMIC BALANCE, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MANDATES, MARKET FAILURES, MARKET SHARE, MEASURE OF TRADE, MONETARY AUTHORITIES, MONETARY POLICY, MONETARY REGIME, MONETARY STABILITY, MORAL HAZARD, NATURAL MONOPOLIES, OVERVALUATION, OVERVALUED EXCHANGE RATES, POLICY INSTRUMENTS, POLITICAL ECONOMY, PORTFOLIOS, POSITIVE EFFECTS, PREFERENTIAL TREATMENT, PRICE INFLATION, PRIVATE BANKS, PRIVATE COMMERCIAL BANKS, PRIVATIZATION, PRODUCERS, PRODUCTIVITY GROWTH, PROFIT MARGINS, PROFITABILITY, PRUDENTIAL REGULATIONS, PUBLIC DEBT, QUOTAS, REAL EXCHANGE RATE, REAL GDP, REGULATORY FRAMEWORK, RESERVE REQUIREMENTS, RISK PREMIA, RISK TAKING, SAVINGS, SPECIALIZATION, STATE BANKS, STATE INTERVENTION, STOCK MARKETS, STRUCTURAL CHANGE, TARIFF BARRIERS, TARIFF RATE, TARIFF RATES, TAXATION, TOTAL FACTOR PRODUCTIVITY, TRADE AGREEMENT, TRADE AGREEMENTS, TRADE FLOWS, TRADE INTENSITY, TRADE LIBERALIZATION, TRADE OPENING, TRADE OPENNESS, TRADE PARTNERS, TRADE POLICY, TRADE REFORM, TRADE REFORMS, TRANSPARENCY, TRANSPORT, TRANSPORT COSTS, UNIFORM TARIFFS, VALUE OF IMPORTS, WEALTH, WORLD TRADE ORGANIZATIONAL CHANGE, DOMESTIC FINANCE, GOVERNANCE, INFRASTRUCTURE, LABOR, MACROECONOMIC GROWTH, PRIVATE SECTOR DEVELOPMENT, PUBLIC SECTOR MANAGEMENT,
Online Access:http://documents.worldbank.org/curated/en/2004/08/5071790/measurement-market-oriented-reforms
https://hdl.handle.net/10986/14160
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