Regulation, Allocative Efficiency and Productivity in OECD Countries: Industry and Firm-Level Evidence
This paper relates diverging productivity performances across OECD countries over the past fifteen years to differences in the stringency of regulations in the product market. We first summarize industry-level evidence linking these diverging patterns to delays in service markets reforms in the wake...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2008
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper relates diverging productivity performances across OECD countries over the past fifteen years to differences in the stringency of regulations in the product market. We first summarize industry-level evidence linking these diverging patterns to delays in service markets reforms in the wake of the ICT shock. The evidence we survey suggests that, especially in continental EU countries, tight regulation of services has slowed down growth in ICT-using sectors, which use intermediate service inputs intensively. Based on harmonised cross-country firm-level data, we then provide new evidence that one of the key channels through which inappropriate service regulations affect productivity growth is by hindering the allocation of resources towards the most dynamic and efficient firms. At the industry level, resources were allocated less efficiently across firms in countries where service regulations are less market-friendly. Firmlevel econometric estimates confirm that anti-competitive service regulations hamper productivity growth in ICT-using sectors, with a particularly pronounced effect on firms that are catching up to the technology frontier and that are close to international best practice. In other words, regulations hurt in particular those firms that have the potential to excel in domestic and international markets |
| Beschreibung: | 1 Online-Ressource (67 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/241447806226 |
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| spelling | Arnold, Jens Matthias Verfasser aut Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence Jens Matthias Arnold, Giuseppe Nicoletti and Stefano Scarpetta = Réglementation, allocation des ressources et productivité dans les pays de l'OCDE : évidence empirique au niveau des secteurs et des entreprises / Jens Matthias Arnold, Giuseppe Nicoletti et Stefano Scarpetta Réglementation, allocation des ressources et productivité dans les pays de l'OCDE Paris OECD Publishing 2008 1 Online-Ressource (67 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper relates diverging productivity performances across OECD countries over the past fifteen years to differences in the stringency of regulations in the product market. We first summarize industry-level evidence linking these diverging patterns to delays in service markets reforms in the wake of the ICT shock. The evidence we survey suggests that, especially in continental EU countries, tight regulation of services has slowed down growth in ICT-using sectors, which use intermediate service inputs intensively. Based on harmonised cross-country firm-level data, we then provide new evidence that one of the key channels through which inappropriate service regulations affect productivity growth is by hindering the allocation of resources towards the most dynamic and efficient firms. At the industry level, resources were allocated less efficiently across firms in countries where service regulations are less market-friendly. Firmlevel econometric estimates confirm that anti-competitive service regulations hamper productivity growth in ICT-using sectors, with a particularly pronounced effect on firms that are catching up to the technology frontier and that are close to international best practice. In other words, regulations hurt in particular those firms that have the potential to excel in domestic and international markets Economics Nicoletti, Giuseppe ctb Scarpetta, Stefano ctb https://doi.org/10.1787/241447806226 Verlag kostenfrei Volltext |
| spellingShingle | Arnold, Jens Matthias Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence Economics |
| title | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence |
| title_alt | Réglementation, allocation des ressources et productivité dans les pays de l'OCDE |
| title_auth | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence |
| title_exact_search | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence |
| title_exact_search_txtP | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence |
| title_full | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence Jens Matthias Arnold, Giuseppe Nicoletti and Stefano Scarpetta = Réglementation, allocation des ressources et productivité dans les pays de l'OCDE : évidence empirique au niveau des secteurs et des entreprises / Jens Matthias Arnold, Giuseppe Nicoletti et Stefano Scarpetta |
| title_fullStr | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence Jens Matthias Arnold, Giuseppe Nicoletti and Stefano Scarpetta = Réglementation, allocation des ressources et productivité dans les pays de l'OCDE : évidence empirique au niveau des secteurs et des entreprises / Jens Matthias Arnold, Giuseppe Nicoletti et Stefano Scarpetta |
| title_full_unstemmed | Regulation, Allocative Efficiency and Productivity in OECD Countries Industry and Firm-Level Evidence Jens Matthias Arnold, Giuseppe Nicoletti and Stefano Scarpetta = Réglementation, allocation des ressources et productivité dans les pays de l'OCDE : évidence empirique au niveau des secteurs et des entreprises / Jens Matthias Arnold, Giuseppe Nicoletti et Stefano Scarpetta |
| title_short | Regulation, Allocative Efficiency and Productivity in OECD Countries |
| title_sort | regulation allocative efficiency and productivity in oecd countries industry and firm level evidence |
| title_sub | Industry and Firm-Level Evidence |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/241447806226 |
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