Product Market Regulation and Macroeconomic Performance : A Review of Cross-Country Evidence

Schiantarelli, Fabio

World Bank, Washington, DC

关键词: ADJUSTMENT COSTS;    ADVERSE EFFECTS;    AGENCY PROBLEMS;    AGGREGATE OUTPUT;    AGGREGATE PERFORMANCE;   

DOI  :  10.1596/1813-9450-3770
RP-ID  :  WPS3770

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

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.