What can governments do to power economic growth? Most economists believe that governments need to help markets work efficiently: enforcing contracts, resolving insolvencies, hooking up firms to the power grid, and the like. The World Bank has an annual ranking of how efficient governments are: the latest tables were released in October. In many countries governments make it tough to do business: in Madagascar it can take a business well over a year to get electricity. The Economist often recommends “structural reform” as one cure for economic ills. But what exactly do we mean?
What structural reform is and why it is important
Source House of Commons - Jan 6, 15