文章基本信息

标题：The short-term impact of product market reforms
本地全文：下载
作者：Peter Gal ; Alexander Hijzen
期刊名称：Economics Department Working Papers / OECD
印刷版ISSN：0259-4633
出版年度：2016
卷号：2016
出版社：Organisation for Economic Co-operation and Development (OECD)
摘要：This paper analyses the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms have positive effects on capital, output and employment and their effects increase over time. After two years, they raise capital by 4%, output by 3% and employment by 1.5%. Second, differences in production technology and the nature of product market regulations across sectors generate important differences in the mechanisms through which reforms operate. In network industries, reforms tend to benefit small firms, while the opposite is observed in retail trade. Product market reforms also promote firm entry, particularly those that reduce entry barriers. Third, credit constraints can play an important role in weakening the positive impact of product market reform on investment. Fourth, product market reforms also tend to have positive effects on firms in downstream sectors—both at home and abroad—that make intensive use of intermediate inputs from deregulated sectors.
关键词：Orbis; competition; structural reforms; firm entry; credit constraints