{
  "title": "Assessing the Impact of Structural Reforms Through a Supply-side Framework: The Case of Argentina",
  "publication": "IMF Working Papers, August 3, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2018/08/03/assessing-the-impact-of-structural-reforms-through-a-supply-side-framework-the-case-of-45937",
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  "summary": "The paper uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina.",
  "sections": [
    {
      "heading": "Framework and methodology",
      "content": "- Uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina.\n- Assesses the impact of product, labor, trade, and tax reforms on each supply-side channel separately:\n  - Capital accumulation\n  - Labor utilization\n  - Total factor productivity (proxied with an efficiency estimate)\n- Combines channel-specific effects to derive the total impact on GDP growth."
    },
    {
      "heading": "Main findings",
      "content": "- The largest effect of structural reforms comes through the productivity/efficiency channel, particularly from regulatory changes that promote competition and facilitate flexible forms of employment.\n- Pro-competition regulation also improves labor utilization.\n- Lower entry barriers and lower trade tariffs are important for capital accumulation.\n- Structural reforms could have substantial effects on Argentina’s long-term GDP growth."
    },
    {
      "heading": "Quantitative impact example",
      "content": "- An ambitious reform effort to improve business regulatory environment would add 1–1½ percent to average annual growth of GDP."
    },
    {
      "heading": "Policy implications and reform priorities",
      "content": "- Prioritize regulatory reforms that:\n  - Promote competition across product markets.\n  - Facilitate flexible forms of employment to raise efficiency.\n- Reduce entry barriers and trade tariffs to support capital accumulation.\n- Coordinate product, labor, trade, and tax reforms to leverage complementary effects across capital, labor, and productivity channels.\n\nLusine Lusinyan, IMF Working Paper No. 2018/183 (2018).\n\n---\n\n Content in this bundle\n\n- Wp18183\n  - Wp18183 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp18183 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2018/08/03/assessing-the-impact-of-structural-reforms-through-a-supply-side-framework-the-case-of-45937"
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    "Authors: Lusine Lusinyan",
    "Published: August 3, 2018",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484362990.001",
    "Uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina.",
    "Assesses the impact of product, labor, trade, and tax reforms on each supply-side channel separately:",
    "Combines channel-specific effects to derive the total impact on GDP growth.",
    "The largest effect of structural reforms comes through the productivity/efficiency channel, particularly from regulatory changes that promote competition and facilitate flexible forms of employment.",
    "Pro-competition regulation also improves labor utilization.",
    "Lower entry barriers and lower trade tariffs are important for capital accumulation.",
    "Structural reforms could have substantial effects on Argentina’s long-term GDP growth.",
    "An ambitious reform effort to improve business regulatory environment would add 1–1½ percent to average annual growth of GDP.",
    "Prioritize regulatory reforms that:",
    "Reduce entry barriers and trade tariffs to support capital accumulation.",
    "Coordinate product, labor, trade, and tax reforms to leverage complementary effects across capital, labor, and productivity channels.",
    "**Wp18183**"
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