Publication: Product Market Regulation and Macroeconomic Performance : A Review of Cross-Country Evidence
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.
“Schiantarelli, Fabio. 2005. Product Market Regulation and Macroeconomic Performance : A Review of Cross-Country Evidence. Policy Research Working Paper; No. 3770. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/2dc9eec8-27cf-50f0-9ade-d8f15002d3d1 License: CC BY 3.0 IGO.”
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