Table 2 Determinants of the total number of labour market reforms

Unemployment (lag)

0.043***

0.062**

0.042***

0.054**

0.091

0.119

(0.012)

(0.027)

(0.014)

(0.027)

(0.076)

(0.160)

Unemployment (difference)

0.102**

0.293**

0.096*

0.263*

0.107

0.269*

(0.051)

(0.134)

(0.056)

(0.137)

(0.078)

(0.154)

Gap growth (lag)

0.033

0.030

0.030

0.024

0.020

0.008

0.042

0.034

(0.027)

(0.027)

(0.026)

(0.026)

(0.024)

(0.021)

(0.032)

(0.029)

Fiscal consolidation

0.275*

0.367*

0.333**

0.433**

0.296**

0.376

0.136

0.192

(0.143)

(0.217)

(0.139)

(0.213)

(0.146)

(0.232)

(0.185)

(0.319)

Fixed exchange

0.382*

0.685**

0.484**

0.802**

0.454**

0.808**

0.891***

0.842***

(0.223)

(0.338)

(0.232)

(0.369)

(0.230)

(0.372)

(0.233)

(0.174)

Election year

−0.087

−0.127

−0.093

−0.134

−0.106

−0.115

−0.047

−0.109

(0.153)

(0.169)

(0.154)

(0.172)

(0.155)

(0.163)

(0.182)

(0.196)

Post-election

−0.113

0.051

−0.108

0.028

−0.123

0.049

−0.040

0.052

(0.151)

(0.210)

(0.149)

(0.206)

(0.152)

(0.213)

(0.164)

(0.234)

Ideology

0.237*

0.145

0.264*

0.224

0.263*

0.219

0.118

−0.238

(0.137)

(0.193)

(0.136)

(0.186)

(0.143)

(0.196)

(0.201)

(0.427)

GDP per capita (log, 2007)

−0.147

−0.196*

−0.119

−0.128

−0.140

−0.182

−1.133

−0.262

(0.131)

(0.115)

(0.128)

(0.097)

(0.131)

(0.110)

(1.282)

(2.595)

Year dummies

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Regional dummies

Yes

Yes

Yes

Yes

Yes

Yes

No

No

Country dummies

No

No

No

No

No

No

Yes

Yes

(Pseudo) R-squared

0.1031

0.1906

0.0969

0.1724

0.1009

0.1683

0.1776

0.3475

N

665

665

665

665

665

665

665

665