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The impact of business regulatory reforms on economic growth

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  • Haidar, Jamal Ibrahim

Abstract

I investigate the link between business regulatory reforms and economic growth in 172 countries. I create a 5year dataset on business regulatory reforms from the World Bank’s Doing Business reports. Then, I test the hypothesis that business regulatory reforms increase economic growth, using data on micro-economic reforms. These data do not suffer the endogeneity issues associated with other datasets on changes in economic institutions. The results provide a robust support for the claim that business regulatory reforms are good for economic growth. The paper establishes that, on average, each business regulatory reform is associated with a 0.15% increase in growth rate of GDP.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of the Japanese and International Economies.

Volume (Year): 26 (2012)
Issue (Month): 3 ()
Pages: 285-307

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Handle: RePEc:eee:jjieco:v:26:y:2012:i:3:p:285-307

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Web page: http://www.elsevier.com/locate/inca/622903

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Keywords: Growth; Reform; Development; Regulations; Doing Business; Institutions;

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References

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  1. Daron Acemoglu & Simon Johnson & James A. Robinson, 2000. "The Colonial Origins of Comparative Development: An Empirical Investigation," NBER Working Papers 7771, National Bureau of Economic Research, Inc.
  2. Juan Botero & Simeon Djankov & Rafael LaPorta & Florencio López-de-Silanes & Andrei Shleifer, . "The Regulation of Labor," Working Paper 19483, Harvard University OpenScholar.
  3. Djankov, Simeon & McLiesh, Caralee & Ramalho, Rita Maria, 2006. "Regulation and growth," Economics Letters, Elsevier, vol. 92(3), pages 395-401, September.
  4. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2002. "Courts: The Lex Mundi Project," Harvard Institute of Economic Research Working Papers 1951, Harvard - Institute of Economic Research.
  5. Djankov, Simeon & La Porta, Rafael & Shleifer, Andrei & Lopez de Silanes, Florencio, 2001. "The regulation of entry," Policy Research Working Paper Series 2661, The World Bank.
  6. Mihir Desai & Paul Gompers & Josh Lerner, 2003. "Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe," NBER Working Papers 10165, National Bureau of Economic Research, Inc.
  7. Leora Klapper & Luc Laeven & Raghuram Rajan, 2004. "Business Environment and Firm Entry: Evidence from International Data," NBER Working Papers 10380, National Bureau of Economic Research, Inc.
  8. Eliana Viviano, 2006. "Entry regulations and labor market outcomes: evidence from the Italian retail trade sector," Temi di discussione (Economic working papers) 594, Bank of Italy, Economic Research and International Relations Area.
  9. Mohammad Amin & Jamal Haidar, 2012. "The cost of registering property: does legal origin matter?," Empirical Economics, Springer, vol. 42(3), pages 1035-1050, June.
  10. Haidar, Jamal Ibrahim, 2009. "Investor protections and economic growth," Economics Letters, Elsevier, vol. 103(1), pages 1-4, April.
  11. Timothy Besley & Robin Burgess, 2004. "Can Labor Regulation Hinder Economic Performance? Evidence from India," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 91-134, February.
  12. Rana Hasan & Devashish Mitra & K.V. Ramaswamy, 2007. "Trade Reforms, Labor Regulations, and Labor-Demand Elasticities: Empirical Evidence from India," The Review of Economics and Statistics, MIT Press, vol. 89(3), pages 466-481, August.
  13. Amin, Mohammad & Haidar, Jamal Ibrahim, 2013. "Trade facilitation and country size," Policy Research Working Paper Series 6692, The World Bank.
  14. Simeon Djankov & Caroline Freund & Cong S. Pham, 2010. "Trading on Time," The Review of Economics and Statistics, MIT Press, vol. 92(1), pages 166-173, February.
  15. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  16. Stefano Scarpetta & Philip Hemmings & Thierry Tressel & Jaejoon Woo, 2002. "The Role of Policy and Institutions for Productivity and Firm Dynamics: Evidence from Micro and Industry Data," OECD Economics Department Working Papers 329, OECD Publishing.
  17. Clifford Winston, 1998. "U.S. Industry Adjustment to Economic Deregulation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 89-110, Summer.
  18. Paul Conway & Véronique Janod & Giuseppe Nicoletti, 2005. "Product Market Regulation in OECD Countries: 1998 to 2003," OECD Economics Department Working Papers 419, OECD Publishing.
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Citations

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Cited by:
  1. Jamal Ibrahim Haidar, 2012. "Trade and productivity: self-selection or learning-by-exporting in India," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00717624, HAL.
  2. Jamal Ibrahim Haidar, 2012. "Trade and productivity: self-selection or learning-by-exporting in India," Post-Print halshs-00717624, HAL.
  3. Somaya Ahmed Aly Abdel-Mowla, 2012. "The Egyptian tax system reforms, investment and tax evasion (2004-2008)," Journal of Economic and Administrative Sciences, Emerald Group Publishing, vol. 28(1), pages 53-78, May.
  4. Mohammad Amin & Jamal Ibrahim Haidar, 2012. "Trade Facilitation and Country Size," Documents de travail du Centre d'Economie de la Sorbonne 12045, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  5. Shintaro Hamanaka & Romana Domingo, 2012. "Measuring Long-Term Commodity-Level Trade Costs: The Case Of Asia," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 1250014-1-1.

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