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Title: Regulation and Investment

Author(s): Alberto F Alesina, Silvia Ardagna, Giorgio Nicoletti and Fabio Schiantarelli

Publication Date: March 2003

Keyword(s): investment and regulation

Programme Area(s): International Macroeconomics

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 policy implication of our analysis is clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment.

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Bibliographic Reference

Alesina, A, Ardagna, S, Nicoletti, G and Schiantarelli, F. 2003. 'Regulation and Investment'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3851