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Does reform work?: an aconometric examination of the reform-growth puzzle
Babetskii, Ian ; Campos, Nauro F.
This paper, using data from 43 econometric studies, shows that one third of the coefficients (of reform on growth) are positive and significant, another third are negative and significant, and the final third are not statistically significant. In trying to understand this remarkable variation, writers find that the measurement of reform and controlling for institutions and initial conditions are the main factors in decreasing the probability of reporting a significant and positive effect of reform on growth.
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