Structural Reforms to Accelerate Growth, Ease Policy Trade-offs, and Support the Green Transition in Emerging Market and Developing Economies

Medientyp: E-Book

Titel: Structural Reforms to Accelerate Growth, Ease Policy Trade-offs, and Support the Green Transition in Emerging Market and Developing Economies

Beteiligte: Budina, Nina [Verfasser:in]; Ebeke, Christian [Sonstige Person, Familie und Körperschaft]; Jaumotte, Florence [Sonstige Person, Familie und Körperschaft]; Medici, Andrea [Sonstige Person, Familie und Körperschaft]; Panton, Augustus [Sonstige Person, Familie und Körperschaft]; Mendes Tavares, Marina [Sonstige Person, Familie und Körperschaft]; Yao, Bella [Sonstige Person, Familie und Körperschaft]

Erschienen: Washington, D.C: International Monetary Fund, 2023

Umfang: 1 Online-Ressource (48 pages)

Sprache: Englisch

DOI: 10.5089/9798400250095.006

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Schlagwörter: Macroeconomics ; Economics: General ; Finance: General ; Environmental Conservation and Protection ; Environmental Policy ; Foreign Exchange ; Informal Economy ; Underground Econom ; General Financial Markets: General (includes Measurement and Data) ; Institutions and the Macroeconomy ; Energy: Government Policy ; Environmental Economics: Government Policy ; Climate ; Natural Disasters and Their Management ; Global Warming ; Economic & financial crises & disasters ; Economics of specific sectors ; Finance ; Climate change ; Environmental policy & protocols ; Financial crises ; Economic sectors ; Emerging and frontier financial markets ; Financial markets ; [...]

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Beschreibung: In the aftermath of the COVID-19 pandemic, emerging market and developing economies are grappling with economic scarring, social tension, and reduced policy space. Policy actions are already urgently needed to boost growth in the near term and support the ongoing green transition. At the same time, high public debt and persistently high inflation have constrained policy space, posing difficult policy trade-offs. This Staff Discussion Note focuses on emerging market and developing economies and proposes a framework for prioritization, packaging, and sequencing of macrostructural reforms to accelerate growth, alleviate policy trade-offs, and support the green transition. The note shows that prioritizing the removal of the most binding constraints on economic activity, bundling reforms (governance, business deregulation, and external sector reforms), and appropriate sequencing of other reforms (such as labor market and credit sector reforms) can help front-load reform gains. In emerging market and developing economies with large initial structural gaps, the estimated output effects of such a major reform package are sizable-about 4 percent in two years and 8 percent in four years. Achieving higher growth and lower absolute carbon emissions over time requires a well-designed strategy that includes both macrostructural and green reforms

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