Impact of Euro-area Membership on Structural Reforms in Product Market and Business Regulation

Nina Schönfelder

CESifo Economic Studies, 2019, vol. 65, issue 1, 16-43

Abstract: This article investigates whether membership in the euro area enhances or hampers structural reforms in the regulation of product markets and business environment. It updates the empirical results of the early literature and adds to it by applying new indicators for structural reforms. By estimating a dynamic panel data model with the system generalized method of moments, I find that euro-area countries deregulate significantly more than other OECD countries in product markets. This result is confirmed applying the longer panel for network sector regulation. However, I do not find any evidence for reforms in business regulation that would ease doing business in a cross-section analysis. (JEL codes: F33, F36, L50)

Keywords: product market regulation; network sector regulation; euro area; ease of doing business; structural reforms; deregulation (search for similar items in EconPapers)
Date: 2019
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