The Impact of Regulation on Growth and Informality : Cross-Country Evidence

• Tác giả: Norman V Loayza
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.9 Economic development and growth
• Thông tin xuất bản: World Bank, Washington, DC, 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 308843
• Chủ đề: 1. AVERAGE INCOME; 2. BANKRUPTCY; 3. CAPITAL ACCUMULATION; 4. CONTRACT ENFORCEMENT; 5. CORRUPTION

Tóm tắt

The authors study the effects of regulation on economic growth and the relative size of the informal sector in a large sample of industrial and developing countries. Along with firm dynamics, informality is an important channel through which regulation affects macroeconomic performance and economic growth in particular. The authors conclude that a heavier regulatory burden-particularly in product and labor markets-reduces growth and induces informality. These effects are, however, mitigated as the overall institutional framework improves.