Structural Reforms for Growth and Cohesion
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Structural Reforms for Growth and Cohesion

Lessons and Challenges for CESEE Countries and a Modern Europe

Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth

Effective and well-designed structural reforms are key to shaping Europe’s future in the context of the formidable challenges facing the continent today. This book examines the achievements and failures of past structural policies so that future ones can be adapted to address remaining and newly emerging challenges with greater success. Highlighting the social aspects and distributional effects of reforms that go beyond liberalization and deregulation, the book covers key issues facing future Europe, particularly those arising from technological innovation.
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Chapter 2: Revisiting transition reform

Sergei Guriev

Abstract

Since the Great Recession, transition countries have experienced a major slowdown in convergence. In order to find new sources of growth, post-communist countries need to accelerate structural reforms. However, the public support for reforms in these countries is limited. The author shows that this is explained by the lack of inclusion and fairness of transition from plan to market. While transition has brought higher income levels on average, the benefits of growth have not been shared broadly, and not always in a meritocratic way. Going forward, market reforms should take into account inclusion and governance aspects in order to reduce the risk of reform reversals.

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