Regulation and Investment

Alberto Alesina (), Silvia Ardagna, Giuseppe Nicoletti () and Fabio Schiantarelli ()

No 352, OECD Economics Department Working Papers from OECD, Economics Department

Abstract:

One commonly held view about the difference between continental European countries and other OECD countries, especially the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the product market, concerning in particular entry barriers, are negatively related to investment. The implications of our analysis are clear: regulatory reforms, especially those that liberalise entry, are very likely to spur investment ...

Régulation and investissement

Une opinion largement diffuse met en relation le moindre taux de croissance des pays européens vis-à-vis d’autres pays de l’OCDE, et en particulier les États-Unis, avec une plus forte régulation des marchés en Europe. A l’aide d’une nouvelle base de données concernant la régulation sectorielle de plusieurs pays de l’OCDE, nous montrons que certaines mesures de la régulation dans les marchés des biens, surtout celles qui imposent des barrières à l’entrée dans les marchés potentiellement concurrentiels, ont un effet négatif et significatif sur la formation de capital. Les implications de notre analyse sont claires: il est très probable que les réformes de la réglementation, spécialement celles qui tendent à libéraliser l’accès aux marchés, puissent stimuler l’investissement ...

Keywords: investment; panel data; regulation; données de panel; investissement; régulation (search for similar items in EconPapers)
JEL-codes: C33 E22 K23 L51 L9 (search for similar items in EconPapers)
Date: 2003-03-25
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http://dx.doi.org/10.1787/206618567362 (text/html)

Related works:
Working Paper: Regulation and Investment (2002)
Working Paper: Regulation and Investment (2003)
Working Paper: Regulation and Investment (2003)
Journal Article: Regulation And Investment (2005)
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Persistent link: http://EconPapers.repec.org/RePEc:oec:ecoaaa:352-en

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