Conference On the Causes and Consequences of Structural Reforms

February 28–29, 2008
Washington, D.C.

Conference Agenda

The conference, sponsored by the IMF's Research Department, aims to provide a forum for discussing theoretical and empirical research on the causes and consequences of structural reforms—especially in terms of their effect on growth, macroeconomic stability, and resilience to shocks. The aim is to cover structural reforms very broadly, to include reforms of domestic financial sectors, labor markets, product markets, trade and capital accounts, and the public sector. The papers should shed light on aspects of how such reforms operate in practice, how they interact with each other as well as with macroeconomic policies and political institutions. The organizers envisage that the papers would cover experience across all segments of the IMF's membership, including industrial, emerging market, and low-income countries. The conference aims to advance our understanding of these issues, especially in relation to the following topics:

  • New datasets for measuring financial, labor, product, trade, and public sector reforms

  • Determinants of structural reforms (including domestic political conditions, international linkages, exogenous shocks, and economic crises).

  • Impact of structural reforms on economic growth and welfare

  • Timing and sequencing of structural reforms, and the consequences thereof

  • Interactions between structural reforms and macroeconomic policies

  • Structural reforms and political institutions

Papers that do not fit into these categories but are related to the main theme of the conference are also welcome.

Submission of Papers

Interested authors should submit either a draft of the paper or a detailed abstract by January 15, 2008 to The final versions of the papers selected for the conference are due by February 15, 2008.

The conference is open to the public; registration is required.
To register for the conference, please send an e-mail to
The deadline for public registration is Friday, February 15, 2008.
Registered attendees will be required to present photo identification on entering the IMF at the Visitor Center entrance at 720 19th street, N.W., Washington DC (through the white tent).
Only IMF/World Bank staff should enter through the main 700 19th street entrance.

Inquiries about the conference may be directed to or (202) 623-7601.

Travel (economy class) and accommodation expenses of paper presenters and discussants will be covered.

Conference Organizers:
Chris Papageorgiou (Chair), Alessandro Prati, Antonio Spilimbergo, Lone Christiansen, Rodney Ramcharan, Martin Schindler, Stephen Tokarick, Prachi Mishra, and Thierry Tressel.


Day 1: Thursday, February 28, 2008 (HQ1-03-500AB - Meeting Halls A&B)
9:00–9:15 Welcome: Simon Johnson (IMF)
9:15–11:15 Session 1: Reform Interactions and Complementarities
  Chair: Jonathan D. Ostry (IMF) Discussant: Ronald McKinnon (Stanford University) Discussant: Enrica Detragiache (IMF) Discussant: Ashoka Mody (IMF)
11:15–11:30 Coffee Break
11:30–1:00pm Session 2: Labor and Product Market Reforms
  Chair: Mark Allen (IMF) Discussant: Yongsung Chang (University of Rochester) Discussant: Andrew Hughes Hallett (George Mason University)
1:00–2:30 Lunch
(By invitation, IMF Gallery)
Remarks by Anne O. Krueger (Johns Hopkins University)
2:30–4:30 Session 3: Consequences of Reforms
  Chair: Michael Deppler (IMF) Discussant: Aart Kraay (World Bank) Discussant: Sergio Schmukler (World Bank) Discussant: Stijn Claessens (IMF)
Day 2: Friday, February 29, 2008 (HQ1-03-500AB - Meeting Halls A&B)
9:00–11:00 Session 4: Political Economy and Reforms
  Chair: Teresa Ter-Minassian (IMF) Discussant: Allan Drazen (University of Maryland)
  • Democracy and Reforms
    Paola Giuliano (IMF and Harvard University)
    Prachi Mishra (IMF), and Antonio Spilimbergo (IMF and CEPR)
Discussant: Francesco Giavazzi (Bocconi and MIT) Discussant: Arvind Subramanian (Peterson Institute for International Economics)
11:00–11:15 Coffee Break
11:15–12:45 Economic Forum: Where Have All the Reforms Gone?

Moderator:John Lipsky (First Deputy Managing Director, IMF)


Philippe Aghion (Harvard University)
Francesco Giavazzi (Bocconi and MIT)
Peter Henry (Stanford University)
John Williamson (Peterson Institute for International Economics)

Organizing Committee: Chris Papageorgiou (Chair), Alessandro Prati, Antonio Spilimbergo, Lone Christiansen, Prachi Mishra, Rodney Ramcharan, Martin Schindler, Stephen Tokarick, and Thierry Tressel.