Economic Growth in the 1990s : Learning from a Decade of Reform

World Bank2012-06-072012-06-0720050-8213-6043-4https://hdl.handle.net/10986/7370The authors examine the impact of growth of key policy and institutional reforms: macroeconomic stabilization, trade liberalization, deregulation of finance, privatization, deregulation of utilities, modernization of the public sector with a view to increasing its effectiveness and accountability, and the spread of democracy and decentralization. They draw lessons both from a policy and institutional perspective and from the perspective of country experiences about how reforms in each policy and institutional area have affected growth.en-USCC BY 3.0 IGOACCUMULATIONADMINISTRATIVE REFORMSAGENCY PROBLEMSANNUAL GROWTHANTICORRUPTIONBUDGET CONSTRAINTSBUREAUCRACYCAPITALCAPITAL ACCOUNTCAPITAL ACCUMULATIONCAPITAL FLOWSCAPITAL INFLOWSCAPITAL MARKETSCENTRAL BANKCENTRAL PLANNINGCITIZENSCIVIL SOCIETYCONDITIONALITYCONVENTIONAL WISDOMCORRUPTIONCOUNTRY REGRESSIONSCOUNTRY SPECIFICITYCREDIT CONSTRAINTSDEBTDECISION MAKINGDEMOCRACYDEREGULATIONDEVALUATIONDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING WORLDDEVELOPMENT REPORTDIRECT INVESTMENTDISTRIBUTION OF WEALTHDIVERSIFICATIONECONOMIC ANALYSISECONOMIC CONSEQUENCESECONOMIC CRISISECONOMIC GROWTHECONOMIC INCENTIVESECONOMIC POLICIESECONOMIC POLICYECONOMIC PROGRESSECONOMIC REFORMECONOMIC RELATIONSECONOMIC RESEARCHECONOMICSECONOMISTSELECTORAL RULESEMPIRICAL MODELSEMPIRICAL WORKEMPLOYMENTEXCHANGE RATESEXPORTSFINANCIAL CRISESFINANCIAL LIBERALIZATIONFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL SECTOR LIBERALIZATIONFISCAL DECENTRALIZATIONFORECASTSFOREIGN EXCHANGEGDPGDP PER CAPITAGROWTHGROWTH PERFORMANCEGROWTH PROCESSGROWTH PROJECTIONSGROWTH PROSPECTSGROWTH RATEGROWTH RATESGROWTH REGRESSIONSGROWTH THEORYHIGH INFLATIONHUMAN CAPITALIMPORTSINCOME GROUPSINCOME INEQUALITYINDUSTRIALIZED COUNTRIESINFANT MORTALITYINFLATION RATESINSTITUTIONAL CHANGEINSTITUTIONAL PERFORMANCEINSTITUTIONAL QUALITYINSTITUTIONAL REFORMSINTEREST RATEINVESTIGATIVE JOURNALISMLABOR PRODUCTIVITYLAND REDISTRIBUTIONLATIN AMERICANLONG-RUN GROWTHLONG-TERM GROWTHMACROECONOMIC MANAGEMENTMACROECONOMIC STABILITYMACROECONOMIC STABILIZATIONMARKET ECONOMYMARKET FAILURESMIDDLE EASTNATIONAL INCOMENATURAL RESOURCESNORTH AFRICAOILOIL PRICESOUTPUT GROWTHPER CAPITA GROWTHPER CAPITA INCOMEPER CAPITA INCOMESPOLICYPOLICY MAKERSPOLICY REFORMSPOLICY VARIABLESPOLITICAL ECONOMYPOLITICAL INSTITUTIONSPOLITICAL PARTIESPOOR COUNTRIESPOVERTY REDUCTIONPRICE CONTROLSPRODUCTIVITYPRODUCTIVITY GROWTHPROPERTY RIGHTSPUBLIC GOODSPUBLIC OFFICIALSPUBLIC POLICIESPUBLIC SECTORPUBLIC SECTOR GOVERNANCEPUBLIC SERVICEPUBLIC SERVICE DELIVERYPUBLIC SPENDINGRAPID GROWTHRATIONINGREAL EXCHANGE RATEREAL EXCHANGE RATESREAL GDPREAL INTEREST RATEREAL INTEREST RATESRESOURCE ALLOCATIONRICH COUNTRIESSAVING RATESECTOR REFORMSSIDE EFFECTSSTATE INTERVENTIONSSTRUCTURAL CHARACTERISTICSSUB-SAHARAN AFRICATAXATIONTECHNOLOGICAL PROGRESSTOTAL FACTOR PRODUCTIVITYTOTAL FACTOR PRODUCTIVITY GROWTHTRADE LIBERALIZATIONTRADE POLICYTRADE SHOCKSTRANSITION COUNTRIESTRANSPARENCYWASTE DISPOSALWEALTHWORLD ECONOMYWORLD INEQUALITYWORLD TRADE ORGANIZATIONEconomic Growth in the 1990s : Learning from a Decade of ReformWorld Bank10.1596/0-8213-6043-4