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

Author

Listed:
  • Ersi Athanassiou

    (Centre of Planning and Economic Research (KEPE))

  • Nikolaos C. Kanellopoulos

    (Centre of Planning and Economic Research (KEPE))

  • Roxani Karagiannis

    (Centre of Planning and Economic Research (KEPE))

  • Ioannis Katselidis

    (Athens University of Economics and Business)

  • Agapi Kotsi

    (Centre of Planning and Economic Research (KEPE))

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.

Suggested Citation

  • Ersi Athanassiou & Nikolaos C. Kanellopoulos & Roxani Karagiannis & Ioannis Katselidis & Agapi Kotsi, 2016. "Measurement of the intensity of the reforms in professions and economic activities in Greece via a composite regulation index," International Economics and Economic Policy, Springer, vol. 13(3), pages 411-428, July.
    • Handle: RePEc:kap:iecepo:v:13:y:2016:i:3:d:10.1007_s10368-016-0348-0
    DOI: 10.1007/s10368-016-0348-0
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    References listed on IDEAS

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    1. Benedikt Braumann, 2004. "Tu Felix Austria: Evidence for a de-celerator in financial reform," International Economics and Economic Policy, Springer, vol. 1(1), pages 53-72, March.
    2. Erik Canton & Daria Ciriaci & Irune Solera, 2014. "The Economic Impact of Professional Services Liberalisation," European Economy - Economic Papers 2008 - 2015 533, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
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    More about this item

    Keywords

    Liberalisation; Composite regulation index; Professions; Greece;
    All these keywords.

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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