Regulation, Productivity and Growth

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  • Regulation, Productivity and Growth Book Detail

  • Author : Giuseppe Nicoletti
  • Release Date : 2003
  • Publisher : World Bank Publications
  • Genre : Antitrust law
  • Pages : 68
  • ISBN 13 :
  • File Size : 16,16 MB

Regulation, Productivity and Growth by Giuseppe Nicoletti PDF Summary

Book Description: 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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