Structural reforms are implemented during deep recessions and when unemployment is high conclude Dias da Silva and al. in this paper. They add that, contrary to common belief, low interest rates tend to promote structural reforms rather than discourage them.
When do countries implement structural reforms?
Authors: Antonio Dias Da Silva, Audrey Givone, David Sondermann
From: ECBBonfiglioli and Gancia use an exhaustive cross-country panel data set on reforms in six major areas to show that economic uncertainty has a positive and significant effect on the adoption of structural reforms.
Economic Uncertainty and Structural Reforms
Authors: Alessandra Bonfiglioli, Gino Gancia
From: Universitat Pompeu Fabra-CREI
The interplay between the government and the private sector
Firms’ incentives to innovate and the government’s decision to implement reforms can be mutually reinforcing both in positive and negative ways according to Aokiy and al.
Structural Reforms, Innovation and Economic Growth
Authors: Kosuke Aokiy, Naoko Hara, Maiko Koga
From: University of Tokyo – Bank of Japan
