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Economic activity tends to cluster. This results in productivity gains. For policy makers this offers an opportunity to formulate and promote policies that foster clustering of economic activity. Paradoxically, although agglomeration rents are often found in empirical research a rationale for...
Persistent link: https://www.econbiz.de/10013098963
businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital … deepening could be established. But looser labour market regulation is found to go hand in hand with higher employment rates …This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and …
Persistent link: https://www.econbiz.de/10012920765
and labour market regulation on the capital stock. Several alternative testing methods show that the negative influence of … product and labour market regulation is considerably stronger at higher levels. The paper uncovers important policy …
Persistent link: https://www.econbiz.de/10012956879
This paper studies theoretically and empirically competition in commodity taxation and product market regulation … taxes finance public goods, and product market regulation affects both the number of firms in the market and product … commodity taxation and product market regulation are interdependent policies. We find absence of strategic interaction in …
Persistent link: https://www.econbiz.de/10012960999
and have good institutions, well developed financial systems, a high road density, a high income per capita and … trade and low market potential (income per capita). We tentatively conclude that cities are important drivers of FDI and …
Persistent link: https://www.econbiz.de/10012751105
effects of institutions on unemployment. Our main results are that on the average a tighter employment protection, a higher … tax burden on labour income and a more generous unemployment insurance system increase, whereas a higher centralization of …
Persistent link: https://www.econbiz.de/10013120904
We develop a model predicting two channels through which creditor protection enhances the performance of stock prices: the probability of a liquidity crisis leading to a binding investment-finance constraint falls with a strong protection of creditors; the stock prices under the...
Persistent link: https://www.econbiz.de/10013091211
In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change
Persistent link: https://www.econbiz.de/10012777642
focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) countries. We introduce …
Persistent link: https://www.econbiz.de/10012777687
Using the MIMIC method, this paper is a first attempt to estimate the size of the shadow economy of 158 countries over the period 1991 up to 2015. In addition to performing a variety of robustness tests, this paper explicitly addresses endogeneity concerns to the use of GDP as cause and...
Persistent link: https://www.econbiz.de/10012956708