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QUESTION
Five economic reforms:
Five economic reforms:
(1) commercial index (a measure of trade liberalization based on tariff policy)
(2) financial reform index (a measure of domestic financial reform in the banking industry)
(3) capital account liberalization index (a measure of international financial liberalization)
(4) privatization index (a measure of the size of the state sector in the economy)
(5) tax reform index (a measure of tax efficiency and government regulation).
What type of reforms help countries improve their ratings, and why?
