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  • 1
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 66 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.347
    Keywords: Economics
    Abstract: In this paper, we relate the scope and depth of regulatory reforms to growth outcomes in OECD countries. By means of a new set of quantitative indicators of regulation, we show that the cross-country variation of regulatory settings has increased in recent years, despite extensive liberalisation and privatisation in the OECD area. We then look at the regulation-growth linkage using data that cover a large set of manufacturing and service industries over the past two decades. We focus on multifactor productivity (MFP), which plays a crucial role in GDP growth and accounts for a significant share of its cross-country variance. We find evidence that reforms promoting private governance and competition (where these are viable) tend to boost productivity. Both privatisation and entry liberalisation are estimated to have a positive impact on productivity. In manufacturing the gains are greater the further a given country is from the technology leader, suggesting that regulation limiting ...
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  • 2
    Online Resource
    Online Resource
    Paris : Organisation for Economic Co-operation and Development, Economics Department
    Language: English
    Pages: Online-Ressource (PDF-Datei: 67 S., 1,25 MB) , graph. Darst.
    Series Statement: OECD Economics Department working papers 616
    Keywords: Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
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  • 3
    Language: English
    Pages: 87 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.226
    Keywords: Economics
    Abstract: This paper presents a database on indicators of product market regulations and employment protection legislation for most of the OECD countries and illustrates a methodology for aggregating these detailed indicators into summary indicators of the strictness of regulations. The summary indicators are obtained by means of factor analysis, in which each component of the regulatory framework is weighted according to its contribution to the overall variance in the data. These indicators are used to assess the regulatory approaches across countries as well as the interrelations between various sets of regulatory provisions. While regulatory provisions can be classified and assessed from a variety of standpoints, this paper focuses exclusively on the relative friendliness of regulations to market mechanisms: there is no attempt to assess the overall quality of regulations or their aptness in achieving their stated public policy goals. The guiding principle inspiring the conception of the ...
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  • 4
    Language: English
    Pages: 68 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.616
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  • 5
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 50 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.472
    Keywords: Economics
    Abstract: We estimate the employment effects of product market reforms aimed at increasing competitive pressures and easing government controls in a sample of OECD countries over the past two decades. We control for several labour market policies and institutions that are thought to influence equilibrium employment rates, and check whether there are interactions between these policies and product market reforms. We find cross-country evidence that some labour and product market policies may be complementary and adjust for this in regressions. Consistent with the implications of the imperfect competition/bargaining model of Blanchard and Giavazzi (2003), our estimates suggest that restrictive regulations have curbed employment rates significantly in countries where no product market reforms were implemented. These effects appear to have been magnified by the interaction of such regulations with labour market settings that provide a strong bargaining power to insiders, suggesting that rent sharing tends to depress employment. The implication is that significant employment gains can be obtained by deregulating product markets in overly regulated countries. Moreover, these employment gains are likely to be higher in countries that have rigid labour markets.
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  • 6
    Language: English
    Pages: 41 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.460
    Keywords: Economics
    Abstract: This paper assesses the implications of past and ongoing reforms in OECD product markets for the labour productivity gap, a key component of cross-country differences in GDP per capita. After a brief review of the theoretical literature, we bring together the results obtained in some of our empirical work over the past few years, discussing econometric approaches and their drawbacks. We then use these results to gauge the likely effect of further reforms. We distinguish effects on capital deepening and technical progress by examining the impact of regulations on investment (domestic and foreign) and multi-factor productivity. We focus on the effects of policies aimed at strengthening private governance (e.g. through privatization) and opening up access to markets where competition is economically viable. The results suggest that pro-competitive reforms tend to increase both investment and multifactor productivity and, through both these channels, they can lead to higher growth in GDP per capita.
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  • 7
    Online Resource
    Online Resource
    Washington, D.C : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 2944
    Parallel Title: Nicoletti, Giuseppe Regulation, productivity and growth
    Keywords: Privatization ; Trade regulation ; Privatization ; Trade regulation
    Note: "January 3, 2003 , Includes bibliographical references , Title from title screen as viewed on February 15, 2003 , Also available in print.
    URL: Volltext  (Deutschlandweit zugänglich)
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