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When do countries implement structural reforms?

Da Silva, Antonio Dias, Givone,  Audrey, Sondermann, David, (2017), “When do countries implement structural reforms?” , ECB, Ιούνιος

The objective of this paper is to investigate which factors ‐ macroeconomic, policy‐related or institutional  ‐ foster the implementation of structural reforms. To this objective, we look at episodes of structural reforms over three decades across 40 OECD and EU countries and link them to such factors. Our results suggest that structural reforms implementation is more likely during deep recessions and when unemployment rates are high.

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