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On the measurement of market-oriented reforms, Volume 1
Author:Loayza, Norman V.; Soto, Raimundo; Country:World;
Date Stored:2004/08/31Document Date:2004/08/05
Document Type:Policy Research Working PaperSubTopics:Economic Theory & Research; Labor Policies; Financial Intermediation; Banks & Banking Reform; Free Trade; Environmental Economics & Policies; Payment Systems & Infrastructure
Language:EnglishRegion:The World Region
Report Number:WPS3371Collection Title:Policy, Research working paper ; no. WPS 3371
Volume No:1  

Summary: This paper presents policy- and outcome-based ways of measuring the progress of market-oriented reforms in both traditional areas of first-generation reform and the areas of institutional reform that have been emphasized lately. These policy areas are the domestic financial system; international financial markets; international trade; the labor market; the tax system; public infrastructure and public firms; the legal and regulatory framework; and governance. For each of them, first, we discuss the general principles underlying market-oriented reform; second, we present various indicators of the policy stance in the area in question; and third, we present various outcome indicators of the policy stance.

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