Summary of JOIE article by Silvio Traverso (University of Eastern Piedmont, Italy), Massimiliano Vatiero (University of Trento, Italy, and Università della Svizzera italiana, Switzerland) and Enrico Zaninotto (University of Trento, and FBK-IRVAPP-Trento, Italy). The full article is available on the JOIE website. Since the 2000s, numerous European countries have implemented market-oriented reforms aimed at increasing external…