Is legislation grease or sand to economic growth? An econometric analysis using data from Italian regions before and after the 2008 crisis
Giuseppe Di Vita () and
Livio Ferrante ()
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Livio Ferrante: University of Catania
European Journal of Law and Economics, 2021, vol. 51, issue 3, No 5, 561 pages
Abstract In this paper the impact of legislation on the GDP growth rate is investigated, both before and after the great economic and financial crisis of 2007–2008. The analysis has been performed using data from the twenty Italian regions from 1995 to 2016. Using several econometric models, the most significant result shows that flows of legislation can push economic growth into a recovery phase of the business cycle, while they should be reduced during recession phases, as they constitute a constraint to economic growth.
Keywords: Business cycle; Deregulation; Economic growth; Financial crisis 2007–2008; Italian regions; Legislative complexity; Polycentricity (search for similar items in EconPapers)
JEL-codes: O17 O43 (search for similar items in EconPapers)
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