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Deregulation and firm investment : evidence from the dismantling of the license system in India

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  • Kandilov,Ivan
  • Leblebiciogu,Asli
  • Manghnani,Ruchita

Abstract

This paper analyzes analyze the impact of deregulatory reforms in India during the 1990s, which eliminated compulsory industrial licensing, on manufacturing firms'investment decisions. The paper finds an economically and statistically significant positive effect of delicensing on investment. It also shows that firms in states with better credit conditions benefitted more from the removal of licenses. Moreover, the analysis demonstrates that the increase in investment was predominantly driven by smaller firms.

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  • Kandilov,Ivan & Leblebiciogu,Asli & Manghnani,Ruchita, 2016. "Deregulation and firm investment : evidence from the dismantling of the license system in India," Policy Research Working Paper Series 7884, The World Bank.
    • Handle: RePEc:wbk:wbrwps:7884
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    Cited by:

    1. Aditya Bhattacharjea, 2022. "Industrial policy in India since independence," Indian Economic Review, Springer, vol. 57(2), pages 565-598, December.

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