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Raising Potential Growth After the Crisis

其他書名	A Quantitative Assessment of the Potential Gains from Various Structural Reforms in the OECD Area and Beyond
出版	Organisation for Economic Co-operation and Development, Economics Department, 2011
URL	http://books.google.com.hk/books?id=rUx20AEACAAJ&hl=&source=gbs_api

註釋Provides an illustrative assessment of the impacts on potential gross domestic product (GDP) over a 5 to 10-year horizon of structural reform scenarios in the areas of product and labour markets, relying on existing OECD empirical studies. Suggests that a gradual alignment of product market regulations to best practice in a broad range of non-manufacturing sectors could boost aggregate labour productivity levels by several per cent over the next decade in many OECD countries, and by over five per cent across most of continental Europe, as well as for the BRIICS. Relaxation of job protection legislation could also raise productivity growth for a while in many OECD and non-OECD G20 countries, although the effects are estimated to be smaller than those from product market reforms. Argues that the overall potential GDP gain for the average OECD country from undertaking the full range of reforms considered here might come close to 10% at a 10-year horizon, indicating the presence of ample room for structural reforms to offset the permanent GDP losses from the recent crisis.