Measurement of the intensity of the reforms in professions and economic activities in Greece via a composite regulation index

Ersi Athanassiou, Nikolaos Kanellopoulos (), Roxani Karagiannis, Ioannis Katselidis and Agapi Kotsi
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Agapi Kotsi: Centre of Planning and Economic Research (KEPE)

International Economics and Economic Policy, 2016, vol. 13, issue 3, No 6, 428 pages

Abstract: Abstract The institutional framework regulating professions/ economic activities of the service sector in Greece has been recently liberalised extensively, to promote competition, conform to European Community regulations and fulfil commitments under the Memoranda of Economic and Financial Policies. This paper aims to capture quantitatively this major structural reform, by measuring for the first time the degree of regulation in 90 professions/ activities affected by the relevant reform laws. The degree of regulation is measured both for the regime before and for that after the laws, and the methodology employed is that of composite regulation indices. The index values obtained are used for evaluating the extent of the reforms and estimating correlations and regressions. The results of the analysis point to the existence of significant barriers to competition before the reforms and extensive liberalisation of the regulatory framework after the adoption of the relevant laws. Moreover, the results suggest that professions/activities characterised by more stringent restrictions before the reforms tend to be characterised by a comparatively higher intensity of regulations after the reforms.

Keywords: Liberalisation; Composite regulation index; Professions; Greece (search for similar items in EconPapers)
JEL-codes: J44 L51 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s10368-016-0348-0

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