Product Market Regulation and Macroeconomic Performance: A Review of Cross-country Evidence
World Bank, Development Research Group, Growth and Investment Team, 2005 - Competition - 46 pages
"The main purpose of this paper is to provide a critical overview of the recent empirical contributions that use cross-country data to study the effects of product market regulation and reform on a country's macroeconomic performance. After a brief review of the theoretical literature and of relevant micro-econometric evidence, the paper discusses the main data and methodological issues related to empirical work on this topic. It then critically evaluates the cross-country evidence on the effects of product market regulation on mark-ups, firm dynamics, investment, employment, innovation, productivity, and output growth. The paper concludes with a summary of lessons learned from the econometric results." -- Cover verso.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
Aghion average barriers to entry capital Cincera and Galgau coefficient component control for country country level country specific creative destruction cross-country evidence decrease deregulation developing countries direct effect effect of entry effect of product effect of regulation employment endogenous growth models entry and exit entry barriers entry liberalization equation estimated existing firms exit rates factors of production firm dynamics Fraser Institute Griffith and Harrison growth rate Howitt important industry specific innovative activities interaction invariant investment labor market regulation Loayza macroeconomic manufacturing measures of regulation micro-econometric negative effect Nicoletti November 2005 November OECD countries output growth overall positive and significant positive effect product and labor product market reform product market regulation public ownership R&D intensity reallocation of resources regression regulatory reform relationship results suggest Scarpetta sector specific service sector significant effect stylized facts tariff TFP growth total factor productivity trade Transmission mechanism unobserved varying measure World Bank