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Second, the basic macroeconomic reforms were not fully implemented.
Key to the turnaround was macroeconomic reforms which established the country as a market economy.
In several countries the macroeconomic reforms resulted in increased inflation and a marked decline in the standard of living.
In the decade following the revolution, however, the Romanian government failed to implement many of the macroeconomic reforms that other eastern European countries with transitional economies had undertaken.
The draft claims that conditions apply only to banks but it also tells Spain to implement macroeconomic reforms demanded by the European Commission.
In fact, even if it cared to try, Zimbabwe's government would find it hard to carry out the macroeconomic reforms that Britain insists on.
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Thus, monitoring and comparing one's seaport with other seaports in terms of overall efficiency has become an essential part of macroeconomic reform programs in many countries.
For example, at the upcoming summits at Cannes, the G-20 will continue its deliberations on international macroeconomic cooperation, reform of the international monetary system, development cooperation, etc., while the G-8 is likely to have on its agenda issues such as the Fukushima nuclear accident, the role of the Internet, and development partnership with African countries".
Despite "manic rule making" he argues that banks are still a powder keg, with insufficient capital, and are liable to wreak havoc when they blow up.This grim assessment leads Mr Wolf towards radicalism, both in macroeconomic and financial reforms.
Intuitively, the macroeconomic determinants behind reforms that increase or decrease protection are likely to differ.
Our results reveal that the institutional and macroeconomic determinants of reforms vary across different labour market subdomains.
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