Deregulation and growth in Italy
Cristina Mocci,
Stefania Pozzuoli,
Francesca Romagnoli and
Cristina Tinti
No 3, Working Papers from Department of the Treasury, Ministry of the Economy and of Finance
Abstract:
The aim of this study is to assess the effects of anti-competitive service regulation on economic performance in Italy. This paper runs a cross-sector panel regression of the Italian value added growth on the OECD PMR sectoral regulation indicators (ETCR and RBSR) in the 1995-2008 period using the national Input-Output matrix. This analysis enriches the empirical understanding of the effects of regulation on national value added growth with relevant implications for policy making. The results prove that in Italy sectoral liberalization on total economy and manufacturing played a relevant role in increasing the value added. We find a negative and statistically significant relationship between the overall liberalization of services, as well as in Energy and Professions, and the performance of the whole economy and manufacturing sector in the considered period. Being Italy among the countries with a significant difference between the regulation (PMR) and the business perception (EFW-DB) indicators, this paper provides a sense of this misalignment in the years of the panel. In particular, evidence shows that economic agents reacted positively to reforms related to state participation (Post, Telecom, Railways) and simplification of paperwork for start-ups in Italy.
Keywords: Regulation; sector analysis; growth (search for similar items in EconPapers)
JEL-codes: L51 L80 O40 (search for similar items in EconPapers)
Pages: 29
Date: 2014-05
New Economics Papers: this item is included in nep-eff, nep-gro, nep-ind and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
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