01933cas a2200253 a 4500 AALejournalIMF017865 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484313732 1018-5941 BD-DhAAL BD-DhAAL Culiuc, Alexander. Structural Reforms and External Rebalancing / Alexander Culiuc, Annette Kyobe. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (51 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 Empirical research on structural reforms has focused primarily on their impact on growth and productivity. Yet an often-invoked rationale for structural reforms is their impact on external adjustment. This paper finds little evidence that structural reforms improve the current account in the short run, but they can increase the responsiveness and resilience of the economy to external shocks. In particular, elasticities of exports with respect to the real effective exchange rate increase with some structural indicators, suggesting that structural reforms facilitate the reallocation of resources to the tradable sector in response to a negative external shock. The paper concludes that structural reforms, while not having an immediate positive impact on the current account balance, can be an important complement to traditional macroeconomic adjustment. Mode of access: Internet Kyobe, Annette. IMF Working Papers; Working Paper ; No. 2017/182 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/182/001.2017.issue-182-en.xml IMF e-Library