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Structural Reforms: dynamic growth impact and policy challenges

What are the beneficial effects of product market reforms? What progress have Spain and Italy made in the past years and what challenges do they still


Ramon Xifré

Professor at ESCI - Universitat Pompeu Fabra and Policy Research Fellow at PPSRC - IESE Business School,

Laura Bardone

Head of Unit – Spain and Croatia, European Commission DG ECFIN,

The need for 'structural reforms' is a constant feature of policy debates in Europe. Far-reaching reform programmes were central to the release of funds to struggling member states, and find their place in European semester country-specific recommendations. But which reforms are most effective? This off-the-record workshop examined the potential contribution of product and labour reforms to growth.

There were three sessions:

  • The first was more methodological and aimed to quantify the beneficial effects of product market reforms, measures to unleash productivity and improvements in good governance.
  • The second focused on Spain and Italy, assessing progress made over the past years and the challenges going forward.
  • The third was a policy debate on how structural reforms could and should be coordinated within the euro area.

Video recording: Vitor Gaspar's Keynote


Laura Bardone - Presentation
Helge Berger - Presentation
Vitor Gaspar - Keynote Presentation
Vitor Gaspar - Presentation
Alessio Terzi - Presentation
Ramon Xifre - Presentation

Relevant reading

The Microeconomic Dimensions of the Eurozone Crisis | Article by Christian Thimann
The Fiscal Consequences of Shrinking Populations | IMF Staff Discussion Note
Structural Reform Programme | Italian Ministry of Economy and Finance
Reform Timetable | Italian Ministry of Economy and Finance
Intermediate report on implementation of reforms | Italian Ministry of Economy and Finance