|Type||Journal Article - Global Journal of Emerging Market Economies|
|Title||The post-crisis growth slowdown in emerging economies and the role of structural reforms|
The paper constructs indicators of structural bottlenecks arising from barriers to trade and
competition, obstacles to business operations, and constraints to access to finance.
Empirical evidence from a sample of 30 emerging market economies indicates that barriers
to trade and competition, as well as bottlenecks to access to finance, are significantly
associated with differences in Total Factor Productivity growth and private investment in
the post-global financial crisis period compared to the pre-crisis period. The findings
indicate that reforms that would improve the overall policy framework in these two areas
up to the level of the best-ranking countries could almost offset the emerging economy
growth slowdown observed in recent years. These reforms would revitalize potential
growth and mitigate the risks from external shocks associated with the global environment
in the transition from the global financial crisis.
|»||Panama - Enterprise Survey 2010|