ESRC: Structural Reforms

Since the 2007 financial crisis, most EU countries have been unable to return to their pre-crisis growth path. From many European capitals, we hear incessantly that structural reforms are the key to economic growth. Although this view has led many countries in Europe into implementing reform programs, we still lack a clear understanding of structural reforms. The almost exclusive focus on product and labor market regulations (in detriment to other important reforms such as trade liberalization) has contributed to this dearth of analysis. This project aims to fill this gap by focusing on three research objectives:

1) We construct a panel data set reflecting the extensive reform experience of the 28 EU members between 1990 and 2015.

2) We use this data set to provide a study of the determinants of structural reforms. We will analyse the role of initial conditions, institutions and political development, and of economic growth on the dynamics of structural reforms.

3) We investigate how structural reforms may affect economic growth and income inequality. This will allow us to answer the question which individual reforms are most beneficial.

Research team

Professor Paul De Grauwe is John Paulson Chair in European Political Economy, European Institute, LSE.

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Dr Yuemei Ji is Lecturer in Economics at the School of Slavonic & East European Studies, UCL.

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Professor Nauro Campos is Professor of Economics and Finance, Brunel University.

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Dr Angelo Martelli is Assistant Professor at the European Institute, LSE.

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Nicholas Andreoulis is Research Assistant in Economics at the European Institute, LSE.

Michael Ganslmeier is Research Assistant in Economics at the School of Slavonic & East European Studies, UCL.

Forthcoming papers

Financial crises and reforms: Progress or reversals? (2019) (Nauro Campos, Paul De Grauwe, Yuemei Ji, Angelo Martelli, Orkun Saka), forthcoming in Campos, N., De Grauwe, P. & Ji, Y. (eds) 'Political Economy of Structural Reforms', Cambridge University Press.

Labour market regulation and tax reforms in the EU: What works? Issues of sequencing and complementarity (2019) (Nauro Campos, Michael Ganslmeier, Yuemei Ji, Angelo Martelli, Orkun Saka), forthcoming in Campos, N., De Grauwe, P. & Ji, Y. (eds) 'Political Economy of Structural Reforms', Cambridge University Press.

Structural reforms in Europe: Lessons from early experiences (2019) (Nauro Campos, Paul De Grauwe, Michael Ganslmeier, Yuemei Ji, Angelo Martelli, Orkun Saka), forthcoming in Campos, N., De Grauwe, P. & Ji, Y. (eds) 'Political Economy of Structural Reforms', Cambridge University Press.

Conferences, seminars, workshops

May 11, 2018: Workshop in The Cañada Blanch Centre Seminar Room at the European Institute, London School of Economics and Political Science.
Speakers: Prof Nauro Campos Chair of Session 1: Reforms and Growth in Europe.
Dr Orkun Saka, Professor Nauro Campos, Professor Paul De Grauwe and Dr Yuemei Ji's Presentation on "Crisis and financial reforms" in Session 2: Crisis and Reforms.
Dr Yuemei Ji Chair of Session 3: Reforms, austerity, and inequality.
Presentation on "Structural Reforms: What works? Issues of sequencing and complementarity" in Session 3 by Dr Angelo Martelli, Professor Nauro Campos, Professor Paul De Grauwe and Dr Yuemei Ji. Professor Paul De Grauwe Chair of the Keynote address.

May 8, 2017: Workshop at the London School of Economics and Political Science.

Professor Paul De Grauwe

London School of Economics and Political Science
Houghton Street
London WC2A 2AE
United Kingdom

Email: p.c.de-grauwe@lse.ac.uk

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