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How does Public Regulation affect Growth?

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Author Info

  • Goergens, Tue
  • Paldam, Martin
  • Würtz, Allan

    ()
    (Department of Economics Aarhus, Denmark)

Abstract

Public regulations can increase economic growth by correcting market faults and decrease growth by consuming resources and reducing incentives. A simple theoretical framework is developed to represent commonly held views on the relationship between growth an regulation. The relationship is possibly non-linear with some level of regulation being optimal. We estimate the relation by a fixed effect non-linear panel data regression model using a new semi-parametric estimator. The outcome shows that the relationship indeed may be non-linear: High levels of regulation lowers growth, but there is no effect on growth for moderate to low levels of regulation.

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File URL: ftp://ftp.econ.au.dk/afn/wp/03/wp03_14.pdf
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Bibliographic Info

Paper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 2003-14.

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Length: 17
Date of creation:
Date of revision:
Handle: RePEc:aah:aarhec:2003-14

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Web page: http://www.econ.au.dk/afn/

Related research

Keywords: Fixed effects; growth; semi-parametric regression; panel data; public regulation;

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References

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  1. Peter Skott, 2004. "Fairness as a source of hysteresis in employment and relative wages," UMASS Amherst Economics Working Papers 2004-04, University of Massachusetts Amherst, Department of Economics.
  2. Andersen, Torben M., . "The Macroeconomic Policy Mix in a Monetary Union with Flexible Inflation Targeting," Economics Working Papers 2003-2, School of Economics and Management, University of Aarhus.
  3. Dell'Anno, Roberto, . "Estimating the Shadow Economy in Italy: a Structural Equation Approach," Economics Working Papers 2003-7, School of Economics and Management, University of Aarhus.
  4. Holler, Manfred & Skott, Peter, . "The importance of setting the agenda," Economics Working Papers 2003-8, School of Economics and Management, University of Aarhus.
  5. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-83, May.
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Citations

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Cited by:
  1. Anabel Zárate-Marco & Jaime Vallés-Giménez, 2012. "The cost of regulation in a decentralized context: the case of the Spanish regions," European Journal of Law and Economics, Springer, vol. 33(1), pages 185-203, February.
  2. Jensen, Peter Sandholt & Paldam, Martin, . "Can the new aid-growth models be replicated," Economics Working Papers 2003-17, School of Economics and Management, University of Aarhus.
  3. Henrik Christoffersen & Martin Paldam, 2004. "Privatization in Denmark, 1980-2002," CESifo Working Paper Series 1127, CESifo Group Munich.
  4. Monika Marcinkowska, 2013. "Regulation and self-regulation in banking: in search of optimum," Bank i Kredyt, National Bank of Poland, Economic Institute, vol. 44(2), pages 119-158.

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