eBook

Business regulation and economic performance

Serven, Luis, Loayza, Norman

2010

Overview

The Schumpeterian process of 'creative destruction' is an essential ingredient of a dynamic economy. In many countries around the world, however, this process is weakened by pervasive regulation of product and factor markets. This book documents the regulatory obstacles faced by firms, particularly in developing countries, and assesses their implications for firm renewal and macroeconomic performance. Combining a variety of methodological approaches--analytical and empirical, micro and macroeconomic, single- and cross-country-- the book provides evidence that streamlining the regulatory framework would have a significant social pay-off, particularly in developing countries that are also burdened by weak governance. The book's chapters trace out analytically and empirically the links between microeconomic policies and distortions, on the one hand, and aggregate performance in terms of productivity, growth and volatility, on the other. The volume adds to a novel but increasingly influential literature that seeks to understand macroeconomic phenomena from a microeconomic perspective, and derive the relevant lessons for development policy. Such literature is still fairly scarce in the case of industrial countries, and virtually in its infancy for developing countries.

• Publisher: World Bank,The World Bank,Washington, DC: World Bank
• Subject: ADMINISTRATIVE BURDENS / ADVERSE EFFECT / ADVERSE EFFECTS / ADVERSE IMPACT / AGRICULTURE / ALLOCATION OF GOODS / ALLOCATION OF RESOURCES / ALLOCATIVE EFFICIENCY / AVERAGE PRODUCTIVITY / BANKRUPTCY / BARRIERS TO ENTRY / BENCHMARK / BURDEN OF REGULATION / Business enterprises / Business enterprises -- Case studies / BUSINESS REGULATION / CAPITAL GOODS / CENTRAL BANK / COMPETITION POLICIES / COMPETITIVE INDUSTRIES / COMPETITIVE MARKETS / COMPETITIVE PRESSURE / COMPETITIVE PRESSURES / COMPETITORS / CONSUMER PRICE / CONSUMER PRICE INDEX / CONSUMERS / COSTS OF REGULATION / CPI / CREDIT RATIONING / DEMAND ELASTICITY / DEREGULATION / DEVELOPED COUNTRIES / ECONOMETRIC ESTIMATES / ECONOMIC ACTIVITY / ECONOMIC CONSEQUENCES / ECONOMIC COSTS / ECONOMIC DEVELOPMENT / Economic development -- Case studies / ECONOMIC EFFICIENCY / ECONOMIC GROWTH / ECONOMIC OUTCOMES / ECONOMIC PERFORMANCE / ECONOMIC RESEARCH / ECONOMICS / ECONOMIES OF SCALE / EMPIRICAL ANALYSIS / EMPIRICAL EVIDENCE / EMPIRICAL RESEARCH / ENFORCEMENT CAPACITY / ENVIRONMENTAL / ENVIRONMENTAL CONSERVATION / ENVIRONMENTAL PROTECTION / ENVIRONMENTS / EQUILIBRIUM / EQUILIBRIUM PRICES / EXCHANGE RATES / EXTERNALITIES / FACTOR DEMAND / FINANCIAL MARKETS / FINANCIAL RESOURCES / FISCAL POLICY / FUTURE RESEARCH / GDP / GDP PER CAPITA / GOVERNMENT INTERVENTION / GOVERNMENT REGULATION / GOVERNMENT SERVICES / GROSS DOMESTIC PRODUCT / GROWTH MODELS / GROWTH RATE / HIGH UNEMPLOYMENT / HUMAN CAPITAL / IMPACT OF REGULATION / IMPACT OF REGULATIONS / IMPORT BARRIERS / INCOME LEVELS / INCREASING RETURNS / INDUSTRIAL ECONOMIES / Industrial laws and legislation / Industrial laws and legislation -- Case studies / INEFFICIENCY / INTERMEDIATE INPUTS / INTERNATIONAL MARKETS / INTERNATIONAL STANDARD / INTERNATIONAL TRADE / LABOR FORCE / LABOR MARKET / LABOR MARKETS / LABOR PRODUCTIVITY / Lateinamerika / LEGAL FRAMEWORK / LEGAL STATUS / LEGAL SYSTEM / LEGISLATION / MACROECONOMIC PERFORMANCE / MACROECONOMICS / MANAGERIAL SLACK / MARGINAL COSTS / MARKET FAILURES / MARKET POWER / MARKET REFORM / MARKET REFORMS / MARKET SHARE / MARKET STRUCTURE / MONOPOLY / MONOPOLY RENTS / NATURAL MONOPOLIES / POLICY IMPLICATION / POLICY IMPLICATIONS / POLICY PERSPECTIVE / POLITICAL ECONOMY / PRESENT VALUE / PRICE CONTROLS / PRODUCERS / PRODUCT MARKET / PRODUCT MARKETS / PRODUCTION COSTS / PRODUCTION FUNCTION / PRODUCTION INPUTS / PRODUCTION PROCESSES / PRODUCTIVE RESOURCES / PRODUCTIVITY GROWTH / PROFESSIONAL SERVICES / PROPERTY RIGHTS / PUBLIC GOODS / PUBLIC INTEREST / PUBLIC OWNERSHIP / PUBLIC PARTICIPATION / PUBLIC POLICY / PUBLIC SECTOR / REAL WAGES / REGULATORY BURDEN / REGULATORY CHANGES / REGULATORY COMPLIANCE / REGULATORY ENVIRONMENT / REGULATORY FRAMEWORK / REGULATORY FRAMEWORKS / REGULATORY GOALS / REGULATORY POLICIES / REGULATORY POLICY / REGULATORY PROVISIONS / REGULATORY REFORM / REGULATORY REFORMS / REGULATORY REGIMES / Regulierung / RETAIL / RETAIL TRADE / RULES / SAFETY / SALES / SCALE EFFECT / SCALE EFFECTS / SET OF RULES / SOCIAL COSTS / SOCIAL WELFARE / SUPPLIERS / TAXATION / TECHNOLOGICAL PROGRESS / TERMS OF TRADE / TOTAL FACTOR PRODUCTIVITY / TOTAL FACTOR PRODUCTIVITY GROWTH / TRADE BARRIERS / TRADE LIBERALIZATION / Trade regulation / Trade regulation -- Case studies / TRANSITION ECONOMIES / TURNOVER / VALUE ADDED / VOLATILITY / WAGES / WELFARE EFFECTS
• ISBN: 9780821374078, 0821374079, 0821381458, 9780821381458