Structural reforms modify the institutional and regulatory framework to foster economic growth and improve welfare. While initially linked to economic liberalization, the concept has expanded to encompass a more comprehensive array of sector-specific interventions. However, the increased level...

The authors study how the effect of trade openness on economic growth depends on complementary reforms that help a country take advantage of international competition. This issue is illustrated with a simple Harris-Todaro model where output gains after trade liberalization depend on the degree...

This paper studies the cycles of nationalization and privatization in resource-rich economies as a prime instance of unstable institutional reform. The authors discuss the available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and...