02192cas a2200265 a 4500 AALejournalIMF006192 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874297 1018-5941 BD-DhAAL BD-DhAAL Christiansen, Lone Engbo. Growth and Structural Reforms : A New Assessment / Lone Engbo Christiansen, Thierry Tressel, Martin Schindler. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (52 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications. Mode of access: Internet Schindler, Martin. Tressel, Thierry. IMF Working Papers; Working Paper ; No. 2009/284 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/284/001.2009.issue-284-en.xml IMF e-Library