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Entry Barriers in Retail Trade

Fabiano Schivardi

Bocconi University - Department of Finance; Bocconi University - IGIER - Innocenzo Gasparini Institute for Economic Research; Einaudi Institute for Economics and Finance (EIEF)

Eliana Viviano

Bank of Italy

January 2008

CEPR Discussion Paper No. DP6637

The 1998 reform of the Italy's retail trade sector delegated the regulation of entry of large stores to the regional governments. We use the local variation in regulation to determine the effects of entry barriers on firms' performance for a representative sample of retailers. We address the endogeneity of entry barriers through local fixed effects and using political variables as instruments. We also control for differences in trends and for area-wide shocks. We find that entry barriers are associated with substantially larger profit margins and substantially lower productivity of incumbent firms. Liberalizing entry has a positive effect on investment in ICT. Consistently, more stringent entry regulation results in higher inflation: lower productivity coupled with larger margins results in higher consumer prices.

Number of Pages in PDF File: 35

Keywords: Entry barriers, productivity growth, technology

JEL Classification: L11, L5, L81

Date posted: June 5, 2008  

Suggested Citation

Schivardi, Fabiano and Viviano, Eliana, Entry Barriers in Retail Trade (January 2008). , Vol. , pp. -, 2008. Available at SSRN: http://ssrn.com/abstract=1140566

Contact Information

Fabiano Schivardi (Contact Author)
Bocconi University - Department of Finance ( email )
Via Roentgen 1
Milano, MI 20136
Bocconi University - IGIER - Innocenzo Gasparini Institute for Economic Research ( email )
Via Roentgen 1
Milan, 20136
Einaudi Institute for Economics and Finance (EIEF) ( email )
Via Due Macelli, 73
Rome, 00187
Eliana Viviano
Bank of Italy ( email )
Via Nazionale 91
Rome, 00184
Feedback to SSRN

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