ABSTRACT
Structural reform, in the broadest sense, is anything that happens within a country that allows the country to participate more effectively in the global economy. Structural reform entails a process by which a country’s institutions, policies, and practices are brought into line with prevailing international standards. The purpose of structural reform is to create a favorable policy environment for accountable, transparent economic policy with well-defined public and private sectors working in mutually reinforcing ways to promote prosperity and sustainable development. Countries undertake structural reform programs because they realize that full participation in the global economy requires policy conformance with international standards.
