Rodrik, Dani, (2015), “The Mirage Of Structural Reform”, Social Europe Journal, 12 October
Every economic program imposed on Greece by its creditors since the financial crisis struck in 2009 has been held together by a central conceit: that structural reforms, conceived boldly and implemented without slippage, would bring about rapid economic recovery. The European Commission, the European Central Bank, and the International Monetary Fund anticipated that fiscal austerity would be costly to incomes and employment – though they significantly underestimated just how costly.
Relevant Posts
- Tsekeris, C. (2015) “Greece requires political reform as much as structural reform of its economy“, LSE EUROPP, 07 April.
- Terzi, Α. (2015) “Is the ECB sacrificing reforms on the altar of inflation? – QE and its impact on structural reform efforts“, Bruegel Institute, 13 March.