Does reform work? An econometric survey of the reform–growth puzzle

There is still an intense controversy about the empirical support for the effects of structural reforms on economic growth. This paper uses data from 46 studies and more than 500 estimates to: (a) document the variation in these estimated effects and (b) identify the main factors that help explain it. We put forward evidence, based on the general-to-specific method, suggesting that the estimated long-run effects of reform on growth are normally...