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Deregulation of Business

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Author Info
Yakovlev, Evgeny
Zhuravskaya, Ekaterina

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Abstract

What determines the enforcement of deregulation reform of business activities? What are the outcomes of deregulation? We address these questions using an episode of a drastic reform in Russia between 2001 and 2004 which liberalized registration, licensing, and inspections. Based on the analysis of micro-level panel data on regulatory burden, we find that: 1) On average, the reform reduced the administrative costs of firms; but, the progress of reform had a substantial geographical variation. 2) The enforcement of deregulation reform was better in regions with a transparent government, low corruption, better access of the public to independent media sources, a powerful industrial lobby, and stronger fiscal autonomy. 3) Using the exogenous variation in regulation generated by the interaction of reform and its institutional determinants, we find a substantial positive effect of deregulation on net entry and small business employment and no effect on pollution and public health. The results support public choice theory of the nature of regulation and are inconsistent with the predictions of public interest theory.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6610.

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Date of creation: Dec 2007
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Handle: RePEc:cpr:ceprdp:6610

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Related research
Keywords: Deregulation Enforcement Entry Public choice Reform Regulation Transparency

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Find related papers by JEL classification:
H10 - Public Economics - - Structure and Scope of Government - - - General
K2 - Law and Economics - - Regulation and Business Law
K20 - Law and Economics - - Regulation and Business Law - - - General
L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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