Description: On The Measurement of Market-Oriented Reforms

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 a...

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Bibliographic Details
Main Authors:	Loayza, Norman V., Soto, Raimundo
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
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 http://hdl.handle.net/10986/14160

Description
Summary:	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.

On The Measurement of Market-Oriented Reforms

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