Regulation, Productivity and Growth : OECD Evidence

Giuseppe Nicoletti ; Stefano Scarpetta

Organisation for Economic Co-operation and Development

关键词: productivity;    regulation;    models with panel data;    privatisation;    growth;   

DOI  :  https://doi.org/10.1787/078677503357

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

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 ...