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The Impact of Business Regulatory Reforms on Economic Growth

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Abstract

I investigate the link between business regulatory reforms and economic growth in 172 countries. I create a five year 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 percent increase in growth rate of GDP.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2012/12044.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 12044.

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Length: 36 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:mse:cesdoc:12044

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Keywords: Growth reform; development; regulations; doing business; institutions.;

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  1. Simeon Djankov & Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, . "The Regulation of Entry," Working Paper 19462, Harvard University OpenScholar.
  2. Haidar, Jamal Ibrahim, 2009. "Investor protections and economic growth," Economics Letters, Elsevier, vol. 103(1), pages 1-4, April.
  3. 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.
  4. 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.
  5. Eliana Viviano, 2006. "Entry regulations and labor market outcomes: evidence from the Italian retail trade sector," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area 594, Bank of Italy, Economic Research and International Relations Area.
  6. Djankov, Simeon & La Porta, Rafael & López-de-Silanes, Florencio & Shleifer, Andrei, 2002. "Courts: The Lex Mundi project," CEPR Discussion Papers 3344, C.E.P.R. Discussion Papers.
  7. 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.
  8. Juan Botero & Simeon Djankov & Rafael LaPorta & Florencio López-de-Silanes & Andrei Shleifer, . "The Regulation of Labor," Working Paper 19483, Harvard University OpenScholar.
  9. Timothy Besley & Robin Burgess, 2002. "Can Labour Regulation Hinder Economic Performance? Evidence from India," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers, Suntory and Toyota International Centres for Economics 33, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  10. Clifford Winston, 1998. "U.S. Industry Adjustment to Economic Deregulation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 89-110, Summer.
  11. 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.
  12. Djankov, Simeon & Freund, Caroline & Pham, Cong S., 2006. "Trading on time," Policy Research Working Paper Series 3909, The World Bank.
  13. Djankov, Simeon & McLiesh, Caralee & Ramalho, Rita Maria, 2006. "Regulation and growth," Economics Letters, Elsevier, vol. 92(3), pages 395-401, September.
  14. Paul Conway & Véronique Janod & Giuseppe Nicoletti, 2005. "Product Market Regulation in OECD Countries: 1998 to 2003," OECD Economics Department Working Papers 419, OECD Publishing.
  15. 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.
  16. Amin, Mohammad & Haidar, Jamal Ibrahim, 2013. "Trade facilitation and country size," Policy Research Working Paper Series 6692, The World Bank.
  17. 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.
  18. Mohammad Amin & Jamal Haidar, 2012. "The cost of registering property: does legal origin matter?," Empirical Economics, Springer, Springer, vol. 42(3), pages 1035-1050, June.
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Cited by:
  1. Jamal Ibrahim Haidar, 2012. "Trade and productivity: self-selection or learning-by-exporting in India," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne 12046, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  2. 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.
  3. Mohammad Amin & Jamal Ibrahim Haidar, 2012. "Trade Facilitation and Country Size," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne 12045, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  4. 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, Emerald Group Publishing, vol. 28(1), pages 53-78, May.
  5. Kirkpatrick, Colin, 2012. "Economic Governance: Improving the economic and regulatory environment for supporting private sector activity," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  6. repec:hal:journl:halshs-00717624 is not listed on IDEAS

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