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Service regulation and growth: evidence from OECD countries

  • Guglielmo Barone

    ()

    (Bank of Italy, Economic Research Unit, Bologna Main Branch)

  • Federico Cingano

    ()

    (Bank of Italy, Research Department)

We study the effects of anti-competitive service regulation by examining whether OECD countries with less anti-competitive regulation see a better economic performance of manufacturing industries using less-regulated services more intensively. Our results indicate that lower service regulation translates into faster value added, productivity, and export growth of downstream service-intensive industries. The negative growth-effect of anti-competitive regulation is particularly relevant in the case of professional services and energy provision. Our estimates prove robust to accounting for alternative forms of regulation (such as product and labor market regulation), for the degree of financial development and also to a number of other specification checks.

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Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 675.

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Date of creation: Jun 2008
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Handle: RePEc:bdi:wptemi:td_675_08
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  9. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, vol. 82(3), pages 591-629, December.
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  15. Giovanni Favarra, 2003. "An Empirical Reassessment of the Relationship Between Finance and Growth," IMF Working Papers 03/123, International Monetary Fund.
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