Regulation Institutions And Productivity
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Regulation Institutions And Productivity
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Author : Balázs Égert
language : en
Publisher:
Release Date : 2017
Regulation Institutions And Productivity written by Balázs Égert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Economics categories.
Abstract: Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a special emphasis on product and labour market policies and the quality of institutions. For a panel of OECD countries, we find that anticompetitive product market regulations are associated with lower MFP levels and that higher innovation intensity and greater openness go in tandem with higher MFP. We also find that the impact of product market regulations on MFP may depend on the level of labour market regulations. Better institutions, a more business friendly environment and lower barriers to trade and investment amplify the positive impact of R & D spending on MFP. Finally, we also show that cross-country MFP variations can be explained to a considerable extent by cross-country variation in labour market regulations, barriers to trade and investment and institutions (including corruption)
Regulation Institutions And Productivity Growth
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Author : Ana Maria Oviedo
language : en
Publisher:
Release Date : 2006
Regulation Institutions And Productivity Growth written by Ana Maria Oviedo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
The Role Of Policy And Institutions For Productivity And Firm Dynamics
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Author : Stefano Scarpetta
language : en
Publisher:
Release Date : 2015
The Role Of Policy And Institutions For Productivity And Firm Dynamics written by Stefano Scarpetta and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This paper presents empirical evidence on the role that policy and institutional settings in both product and labour market play for productivity and firm dynamics. It exploits a new firm-level database for ten OECD countries and industry-level data for a broader set of countries, together with a set of indicators of regulation and institutional settings in product and labour markets. Aggregate productivity patterns are largely the result of within-firm performance. But, the contribution from firm dynamic processes should not be overlooked, most notably in high-tech industries where new firms tend to play an important role. Industry productivity performance is negatively affected by strict product market regulations, especially if there is a significant technology gap with the technology leader. Likewise, high hiring and firing costs seem to hinder productivity, especially when these costs are not offset by lower wages and/or more internal training. Moreover, burdensome regulations on entrepreneurial activity as well as high costs of adjusting the workforce seem to negatively affect the entry of new small firms. Our data also suggest different features of entrant and exiting firms across countries. In particular, in the U.S., entrant firms tend to be smaller and with lower than average productivity, but those which survive the initial years expand rapidly. By contrast, firms tend to enter with a relatively higher size in Europe but do not expand significantly subsequently.
Business Regulation And Economic Performance
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Author : Norman V. Loayza
language : en
Publisher: World Bank Publications
Release Date : 2010-01-11
Business Regulation And Economic Performance written by Norman V. Loayza and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-11 with Business & Economics categories.
The Schumpeterian process of 'creative destruction' is an essential ingredient of a dynamic economy. In many countries around the world, however, this process is weakened by pervasive regulation of product and factor markets. This book documents the regulatory obstacles faced by firms, particularly in developing countries, and assesses their implications for firm renewal and macroeconomic performance. Combining a variety of methodological approaches--analytical and empirical, micro and macroeconomic, single- and cross-country-- the book provides evidence that streamlining the regulatory framework would have a significant social pay-off, particularly in developing countries that are also burdened by weak governance. The book's chapters trace out analytically and empirically the links between microeconomic policies and distortions, on the one hand, and aggregate performance in terms of productivity, growth and volatility, on the other. The volume adds to a novel but increasingly influential literature that seeks to understand macroeconomic phenomena from a microeconomic perspective, and derive the relevant lessons for development policy. Such literature is still fairly scarce in the case of industrial countries, and virtually in its infancy for developing countries.
Regulation And Trade In Development
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Author : Sean Michael Dougherty
language : en
Publisher:
Release Date : 2013
Regulation And Trade In Development written by Sean Michael Dougherty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Institutions, and their underlying rules, are essential for economic development, in that they provide a framework for markets to operate. However, different types of regulatory roles and even institutional settings may have very different effects on outcomes at the firm or individual level. This dissertation examines the effect of several types of rules and institutions on productivity and related measures. The first chapter examines the effect of international competition and domestic competitive barriers on firm-level productivity growth in the OECD. A close interaction is observed between import penetration and domestic barriers to entry, conditional on a firm's distance to the technological frontier. The second chapter examines the effects of labor market reform on plants in different Indian states. A positive effect of labor market reform is found on plant-level productivity growth in labor-intensive and volatile industries. The third chapter looks at Indian exporters who took advantage of capital account liberalization to invest abroad, and explores whether they gained through learning-by-doing. After matching these firms with similar firms that did not invest abroad, the chapter finds that productivity was not boosted, though firms did gain in terms of their overall size through market access. The fourth chapter explores how the legal system in different Mexican states has impacted the size of firms through heightened capital intensity. States with higher quality legal institutions are found to have systematically larger and more productive firms.
Boosting Productivity Via Innovation And Adoption Of New Technologies
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Author : Thierry Tressel
language : en
Publisher: World Bank Publications
Release Date : 2004
Boosting Productivity Via Innovation And Adoption Of New Technologies written by Thierry Tressel and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Industrial productivity categories.
Scarpetta and Tressel present empirical evidence on the determinants of industry-level multifactor productivity growth. They focus on "traditional factors," including the process of technological catch up, human capital, and research and development (R & D), as well as institutional factors affecting labor adjustment costs. Their analysis is based on harmonized data for 17 manufacturing industries in 18 industrial economies over the past two decades. The disaggregated analysis reveals that the process of technological convergence takes place mainly in low-tech industries, while in high-tech industries, country leaders tend to pull ahead of the others. The link between R & D activity and productivity also depends on technological characteristics of the industries: while there is no evidence of R & D boosting productivity in low-tech industries, the effect is strong in high-tech industries, but the technology leaders tend to enjoy higher returns on R & D expenditure compared with followers. There is also evidence in the data that high labor adjustment costs (proxied by the strictness of employment protection legislation) can have a strong negative impact on productivity. In particular, when institutional settings do not allow wages or internal training to offset high hiring and firing costs, the latter reduce incentives for innovation and adoption of new technologies, and lead to lower productivity performance. Albeit drawn from the experience of industrial countries, this result may have relevant implications for many developing economies characterized by low relative wage flexibility and high labor adjustment costs. This paper--a joint product of the Social Protection Team, Human Development Network, World Bank, and the International Monetary Fund--is part of a larger effort to understand what drives productivity growth.
Regulation Productivity And Growth
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Author : Giuseppe Nicoletti
language : en
Publisher: World Bank Publications
Release Date : 2003
Regulation Productivity And Growth written by Giuseppe Nicoletti and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Antitrust law categories.
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 ...
Productivity And Convergence In A Panel Of Oecd Industries
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Author :
language : en
Publisher:
Release Date : 2002
Productivity And Convergence In A Panel Of Oecd Industries written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Labor Market Institutions And Public Regulation
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Author : Jonas Agell
language : en
Publisher: MIT Press
Release Date : 2004
Labor Market Institutions And Public Regulation written by Jonas Agell and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
The effect of public regulation on the labor market: detailed analyses of a wide range of policy interventions. The six studies collected in this CESifo volume analyze the sometimes unpredictable effects of public regulation on the labor market. Examining a wide range of policy interventions -- from subsidized employment to an increased tax on capital -- and using a variety of methodologies to analyze them, these contributions by leading scholars of the European labor market will advance the policy debate over regulation at a time of serious labor market problems in Europe and elsewhere. The first three chapters of Labor Market Institutions and Public Regulation present empirical findings, comparing the effects of job training and subsidized employment on the Swedish labor market, analyzing the effect of extended unemployment benefits on unemployment duration for older Austrian workers, and examining poor labor market performance in Spain even after policy reforms. The following chapters take a more theoretical approach, applying the analytical tools of theory to policy issues. These three studies examine the general equilibrium repercussions of public support for both basic and higher education, develop an efficiency wage model to analyze mandated severance pay, and compare different kinds of redistribution to low-skill workers financed by an increased tax on capital.
Regulatory Institutions And Practices
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Author : New Zealand Productivity Commission
language : en
Publisher:
Release Date : 2014
Regulatory Institutions And Practices written by New Zealand Productivity Commission and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Administrative law categories.