Structural Reforms and Labor Reallocation: A Cross-Country Analysis

Released on by Khalid ElFayoumi
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  • Structural Reforms and Labor Reallocation: A Cross-Country Analysis Book Detail

  • Author : Khalid ElFayoumi
  • Release Date : 2018-03-19
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 41
  • ISBN 13 : 1484348397
  • File Size : 93,93 MB
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Structural Reforms and Labor Reallocation: A Cross-Country Analysis by Khalid ElFayoumi PDF Summary

Book Description: Institutional and market frictions impose costs on the reallocation of labor from low to high productivity sectors, leading to suboptimal allocations and a loss in aggregate labor productivity. Using cross-country sector-level data, we use a dynamic panel error correction model to compute the speed of sectoral labor adjustment, as well as the contribution of structural reforms in governance, labor and product markets, trade and openness, and the financial sector to lowering the costs of labor reallocation. We find that, on average, sectoral employment shares converge towards equilibrium allocations, closing about 13.7 percent of labor productivity gaps each year; this speed of labor adjustment varies across sectors and income groups. On structural reforms, we find a significant association between more efficient labor reallocation and financial market liberalization, less bureaucracy, strong judicial and regulatory environment, trade liberalization, better education and more flexible labor and product markets.

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Morocco

Morocco

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This Selected Issues paper examines the distributional effects of tax reforms in Morocco. Overall, the performance of Morocco’s tax system is satisfactory, bu