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Do wide-reaching reform programmes foster growth?

Alessio Terzi, Pasquale Marco Marrazzo, (2018), “Do wide-reaching reform programmes foster growth?”, Bruegel, 28 Μαρτίου

With growth gathering momentum in the eurozone, some have claimed this is the proof that structural reforms implemented during the crisis are working, re-opening the long-standing debate on the extent to which reforms contribute to fostering long-term growth. This column employs a novel empirical approach – a modified version of the Synthetic Control Method – to estimate the impact of large reform waves implemented in the past 40 years worldwide.

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