The Role of Regulation on Entry : Evidence from the Italian Provinces

Bripi, Francesco

World Bank, Washington, DC

关键词: BUSINESS ACTIVITIES;    BUSINESS OWNERS;    RED TAPE;    ECONOMIC GROWTH;    BUSINESS OPPORTUNITIES;   

DOI  :  10.1596/1813-9450-7650
RP-ID  :  WPS7650

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper studies the effects ofdifferences in local administrative burdens in Italy in theyears 2005–2007 preceding a major reform that sped up firmregistration procedures. Combining regulatory data from asurvey on Italian provinces before the reform (costs andtime to start a business) with industry-level entry rates oflimited liability firms, it explores the effects ofregulatory barriers on the average of the annual entry ratesacross industries with different natural propensities toenter the market. The estimates of the cross-sectionalanalysis show that lengthier and, to some extent, morecostly procedures reduced entry in sectors with naturallyhigh entry. A one-day delay in registration proceduresreduces the entry rate in highly dynamic sectors by morethan 1 percent. These results hold when I include measuresof local financial development and of efficiency ofbankruptcy procedures are included.