Front Matter Page
Research Department
Authorized for distribution by Gian Maria Milesi-Ferretti
Contents
I. Introduction
II. Related Literature
III. The Empirical Model
A. Standard Growth Regressions
B. Dynamic Effects of Reforms
IV. Data Description
A. Data
B. Descriptive Statistics
V. Main Results
A. Standard growth regressions
B. Dynamic Effects of Reforms
VI. Robustness Tests and endogeneity
A. Robustness tests
B. Endogeneity
VII. Reform Sequencing and Economic Performance
VIII. Conclusion
References
Figures
1. ReformEpisodes
Tables
1. Country Sample
2. Summary Statistices
3. Bivariate Correlations
4. Standard Growth Regressions
5. The Channels of the Effects of Liberalizations
6. System GMM Regressions
7. Baseline: Dynamic Effect of Reforms
8. Channels Dynamic Effects of Reforms
9. Robustness Tests Dynamic Effect of Reforms
10. Dynamic Effect of Reforms on TFP and Investment Robustness
11. A. Instrumental Variables Regressions Second Stage
B. Instrumental Variable Regressions First Stage
12. Sequencing Economic and Political Reforms
Appendix Table: 2 SLS Regressions