Informality and Regulations: What Drives Firm Growth?
The paper relies on a rich firm-level data set on transition economies to examine the role of informality as an important channel through which regulatory and other policy constraints affect firm growth. We find that firms reduce their formal operations with a higher tax and regulatory burden, but i...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2007
|
| Series: | IMF Working Papers
Working Paper No. 07/112 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | The paper relies on a rich firm-level data set on transition economies to examine the role of informality as an important channel through which regulatory and other policy constraints affect firm growth. We find that firms reduce their formal operations with a higher tax and regulatory burden, but increase it with better enforcement quality. In terms of firm growth, we find a differential impact of regulatory burden and enforcement quality on formal and informal firms. In particular, we find that growth in formal firms is negatively affected by both tax and financing constraints, while these constraints are insignificant for growth in informal firms. Moreover, formal firm growth improves with better enforcement as measured by fair and impartial courts, while informal firm growth is constrained by organized crime, pointing to their inability to take full advantage of the legal and judicial systems. Finally, when we look at country-wide institutions, we find that higher regulatory burden reduces firm growth. An interactive term between a country-wide measure of the rule of law and a proxy for formality suggests that better enforcement quality dampens the relatively weaker growth in formal firms |
| Physical Description: | 1 Online-Ressource (26 p) |
| ISBN: | 1451866763 9781451866766 |
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| 520 | 3 | |a The paper relies on a rich firm-level data set on transition economies to examine the role of informality as an important channel through which regulatory and other policy constraints affect firm growth. We find that firms reduce their formal operations with a higher tax and regulatory burden, but increase it with better enforcement quality. In terms of firm growth, we find a differential impact of regulatory burden and enforcement quality on formal and informal firms. In particular, we find that growth in formal firms is negatively affected by both tax and financing constraints, while these constraints are insignificant for growth in informal firms. Moreover, formal firm growth improves with better enforcement as measured by fair and impartial courts, while informal firm growth is constrained by organized crime, pointing to their inability to take full advantage of the legal and judicial systems. Finally, when we look at country-wide institutions, we find that higher regulatory burden reduces firm growth. An interactive term between a country-wide measure of the rule of law and a proxy for formality suggests that better enforcement quality dampens the relatively weaker growth in formal firms | |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:23Z |
| indexdate | 2024-07-10T09:35:32Z |
| institution | BVB |
| isbn | 1451866763 9781451866766 |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Dabla-Norris, Era Verfasser aut Informality and Regulations What Drives Firm Growth? Dabla-Norris, Era Washington, D.C International Monetary Fund 2007 1 Online-Ressource (26 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/112 The paper relies on a rich firm-level data set on transition economies to examine the role of informality as an important channel through which regulatory and other policy constraints affect firm growth. We find that firms reduce their formal operations with a higher tax and regulatory burden, but increase it with better enforcement quality. In terms of firm growth, we find a differential impact of regulatory burden and enforcement quality on formal and informal firms. In particular, we find that growth in formal firms is negatively affected by both tax and financing constraints, while these constraints are insignificant for growth in informal firms. Moreover, formal firm growth improves with better enforcement as measured by fair and impartial courts, while informal firm growth is constrained by organized crime, pointing to their inability to take full advantage of the legal and judicial systems. Finally, when we look at country-wide institutions, we find that higher regulatory burden reduces firm growth. An interactive term between a country-wide measure of the rule of law and a proxy for formality suggests that better enforcement quality dampens the relatively weaker growth in formal firms Online-Ausg Inchauste, Gabriela Sonstige oth http://elibrary.imf.org/view/IMF001/03591-9781451866766/03591-9781451866766/03591-9781451866766.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Dabla-Norris, Era Informality and Regulations What Drives Firm Growth? |
| title | Informality and Regulations What Drives Firm Growth? |
| title_auth | Informality and Regulations What Drives Firm Growth? |
| title_exact_search | Informality and Regulations What Drives Firm Growth? |
| title_exact_search_txtP | Informality and Regulations What Drives Firm Growth? |
| title_full | Informality and Regulations What Drives Firm Growth? Dabla-Norris, Era |
| title_fullStr | Informality and Regulations What Drives Firm Growth? Dabla-Norris, Era |
| title_full_unstemmed | Informality and Regulations What Drives Firm Growth? Dabla-Norris, Era |
| title_short | Informality and Regulations |
| title_sort | informality and regulations what drives firm growth |
| title_sub | What Drives Firm Growth? |
| url | http://elibrary.imf.org/view/IMF001/03591-9781451866766/03591-9781451866766/03591-9781451866766.xml |
| work_keys_str_mv | AT dablanorrisera informalityandregulationswhatdrivesfirmgrowth AT inchaustegabriela informalityandregulationswhatdrivesfirmgrowth |