Regulation and Investment

36 Pages Posted: 27 Mar 2003 Last revised: 1 Nov 2010

See all articles by Alberto F. Alesina

Alberto F. Alesina

Harvard University - Department of Economics; Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)

Silvia Ardagna

National Bureau of Economic Research (NBER); Goldman Sachs - London

Giuseppe Nicoletti

Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO)

Fabio Schiantarelli

Boston College - Department of Economics; IZA Institute of Labor Economics

Multiple version iconThere are 3 versions of this paper

Date Written: March 2003

Abstract

One commonly held view about the difference between continental European countries and other OECD economies, especially the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the product market, concerning in particular entry barriers, are negatively related to investment. The implications of our analysis are clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment.

Suggested Citation

Alesina, Alberto F. and Ardagna, Silvia and Nicoletti, Giuseppe and Schiantarelli, Fabio, Regulation and Investment (March 2003). NBER Working Paper No. w9560, Available at SSRN: https://ssrn.com/abstract=387568

Alberto F. Alesina (Contact Author)

Harvard University - Department of Economics ( email )

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Silvia Ardagna

National Bureau of Economic Research (NBER) ( email )

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Giuseppe Nicoletti

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Fabio Schiantarelli

Boston College - Department of Economics ( email )

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