The Experts below are selected from a list of 360 Experts worldwide ranked by ideXlab platform
Giuseppe Nicoletti - One of the best experts on this subject based on the ideXlab platform.
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Do Product Market Regulations in Upstream Sectors Curb Productivity Growth? Panel Data Evidence for OECD Countries
Review of Economics and Statistics, 2013Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:We identify the impact of intermediate goods markets imperfections on Productivity downstream. Our empirical specification is based on a model of Multifactor Productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a panel of fifteen OECD countries and twenty industries over 1985 to 2007. Competitive pressures are proxied with industry product market regulation data. We find evidence that anticompetitive upstream regulations have significantly curbed MFP growth over the past fifteen years, and more strongly so for observations that are close to the Productivity frontier.
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DO PRODUCT MARKET REGULATIONS IN UPSTREAM SECTORS CURB Productivity GROWTH? PANEL DATA EVIDENCE FOR OECD COUNTRIES
2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:The paper focuses on the influence of upstream competition for Productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve Productivity downstream, negatively affecting Productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a Multifactor Productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.
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do product market regulations in upstream sectors curb Productivity growth panel data evidence for oecd countries
National Bureau of Economic Research, 2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve Productivity downstream. We confirm such prediction by estimating a model of Multifactor Productivity growth in which the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that anticompetitive upstream regulations have curbed MFP growth over the past 15 years, more strongly so for observations that are close to the Productivity frontier.
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regulation Productivity and growth oecd evidence
Economic Policy, 2003Co-Authors: Giuseppe Nicoletti, Stefano ScarpettaAbstract:The authors look at differences in the scope and depth of pro-competitive regulatory reforms and privatization policies as a possible source of cross-country dispersion in growth outcomes. They suggest that, despite extensive liberalization and privatization in the OECD area, the cross-country variation of regulatory settings has increased in recent years, lining up with the increasing dispersion in growth. The authors then investigate empirically the regulation-growth link using data that cover a large set of manufacturing and service industries in OECD countries over the past two decades and focusing on Multifactor Productivity (MFP), which plays a crucial role in GDP growth and accounts for a significant share of its cross-country variance. Regressing MFP on both economywide indicators of regulation and privatization and industry-level indicators of entry liberalization, the authors find evidence that reforms promoting private governance and competition (where these are viable) tend to boost Productivity. In manufacturing the gains to be expected from lower entry barriers are greater the further a given country is from the technology leader. So, regulation limiting entry may hinder the adoption of existing technologies, possibly by reducing competitive pressures, technology spillovers, or the entry of new high technology firms. At the same time, both privatization and entry liberalization are estimated to have a positive impact on Productivity in all sectors. These results offer an interpretation to the observed recent differences in growth patterns across OECD countries, in particular between large continental European economies and the United States. Strict product market regulations-and lack of regulatory reforms-are likely to underlie the relatively poorer Productivity performance of some European countries, especially in those industries where Europe has accumulated a technology gap (such as information and communication technology-related industries). These results also offer useful insights for non-OECD countries. In particular, they point to the potential benefits of regulatory reforms and privatization, especially in those countries with large technology gaps and strict regulatory settings that curb incentives to adopt new technologies.
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regulation Productivity and growth oecd evidence
2003Co-Authors: Stefano Scarpetta, Giuseppe NicolettiAbstract:Nicoletti and Scarpetta look at differences in the scope and depth of pro-competitive regulatory reforms and privatization policies as a possible source of cross-country dispersion in growth outcomes. They suggest that, despite extensive liberalization and privatization in the OECD area, the cross-country variation of regulatory settings has increased in recent years, lining up with the increasing dispersion in growth. The authors then investigate empirically the regulation-growth link using data that cover a large set of manufacturing and service industries in OECD countries over the past two decades and focusing on Multifactor Productivity (MFP), which plays a crucial role in GDP growth and accounts for a significant share of its cross-country variance. Regressing MFP on both economywide indicators of regulation and privatization and industry-level indicators of entry liberalization, the authors find evidence that reforms promoting private governance and competition (where these are viable) tend to boost Productivity. In manufacturing the gains to be expected from lower entry barriers are greater the further a given country is from the technology leader. So, regulation limiting entry may hinder the adoption of existing technologies, possibly by reducing competitive pressures, technology spillovers, or the entry of new high-technology firms. At the same time, both privatization and entry liberalization are estimated to have a positive impact on Productivity in all sectors. These results offer an interpretation to the observed recent differences in growth patterns across OECD countries, in particular between large continental European economies and the United States. Strict product market regulations - and lack of regulatory reforms - are likely to underlie the relatively poorer Productivity performance of some European countries, especially in those industries where Europe has accumulated a technology gap (such as information and communication technology-related industries). These results also offer useful insights for non-OECD countries. In particular, they point to the potential benefits of regulatory reforms and privatization, especially in those countries with large technology gaps and strict regulatory settings that curb incentives to adopt new technologies. This paper - a product of the Social Protection Team, Human Development Network - is part of a larger effort in the network to understand what drives Productivity growth.
Renaud Bourlès - One of the best experts on this subject based on the ideXlab platform.
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Do Product Market Regulations in Upstream Sectors Curb Productivity Growth? Panel Data Evidence for OECD Countries
Review of Economics and Statistics, 2013Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:We identify the impact of intermediate goods markets imperfections on Productivity downstream. Our empirical specification is based on a model of Multifactor Productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a panel of fifteen OECD countries and twenty industries over 1985 to 2007. Competitive pressures are proxied with industry product market regulation data. We find evidence that anticompetitive upstream regulations have significantly curbed MFP growth over the past fifteen years, and more strongly so for observations that are close to the Productivity frontier.
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DO PRODUCT MARKET REGULATIONS IN UPSTREAM SECTORS CURB Productivity GROWTH? PANEL DATA EVIDENCE FOR OECD COUNTRIES
2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:The paper focuses on the influence of upstream competition for Productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve Productivity downstream, negatively affecting Productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a Multifactor Productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.
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do product market regulations in upstream sectors curb Productivity growth panel data evidence for oecd countries
National Bureau of Economic Research, 2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve Productivity downstream. We confirm such prediction by estimating a model of Multifactor Productivity growth in which the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that anticompetitive upstream regulations have curbed MFP growth over the past 15 years, more strongly so for observations that are close to the Productivity frontier.
Jacques Mairesse - One of the best experts on this subject based on the ideXlab platform.
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Product and Labour Market Regulations, Production Prices, Wages and Productivity
Review of Economics and Institutions, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is an attempt to evaluate the effects of product and labour market regulations on industry Productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for country*industry and country*year fixed effects, show that multi-factor Productivity is negatively and significantly influenced by both indicators of industrial prices from same industry and weighted average of industrial prices from other industries, and by indicators of country wages weighted by industry labour shares for low and high skilled workers. In a second stage, an economic policy simulation of the implications these results on the basis of their calibration by the OECD product and labour market anti-competitive regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from deregulation reforms.
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market regulations prices and Productivity
Research Papers in Economics, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is, to our knowledge, the first attempt to infer the consequences on Productivity entailed by anticompetitive regulations in product and labor markets through their impacts on production prices and wages. Results show that changes in production prices and wages at country*industry levels are informative about the creation of rents impeding Productivity in different ways and to different extents. A simulation based on OECD regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from the implementation of large structural reform programs changing anticompetitive regulation practices on product and labor markets.
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Do Product Market Regulations in Upstream Sectors Curb Productivity Growth? Panel Data Evidence for OECD Countries
Review of Economics and Statistics, 2013Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:We identify the impact of intermediate goods markets imperfections on Productivity downstream. Our empirical specification is based on a model of Multifactor Productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a panel of fifteen OECD countries and twenty industries over 1985 to 2007. Competitive pressures are proxied with industry product market regulation data. We find evidence that anticompetitive upstream regulations have significantly curbed MFP growth over the past fifteen years, and more strongly so for observations that are close to the Productivity frontier.
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DO PRODUCT MARKET REGULATIONS IN UPSTREAM SECTORS CURB Productivity GROWTH? PANEL DATA EVIDENCE FOR OECD COUNTRIES
2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:The paper focuses on the influence of upstream competition for Productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve Productivity downstream, negatively affecting Productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a Multifactor Productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.
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do product market regulations in upstream sectors curb Productivity growth panel data evidence for oecd countries
National Bureau of Economic Research, 2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve Productivity downstream. We confirm such prediction by estimating a model of Multifactor Productivity growth in which the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that anticompetitive upstream regulations have curbed MFP growth over the past 15 years, more strongly so for observations that are close to the Productivity frontier.
Gilbert Cette - One of the best experts on this subject based on the ideXlab platform.
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Product and Labour Market Regulations, Production Prices, Wages and Productivity
Review of Economics and Institutions, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is an attempt to evaluate the effects of product and labour market regulations on industry Productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for country*industry and country*year fixed effects, show that multi-factor Productivity is negatively and significantly influenced by both indicators of industrial prices from same industry and weighted average of industrial prices from other industries, and by indicators of country wages weighted by industry labour shares for low and high skilled workers. In a second stage, an economic policy simulation of the implications these results on the basis of their calibration by the OECD product and labour market anti-competitive regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from deregulation reforms.
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market regulations prices and Productivity
Research Papers in Economics, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is, to our knowledge, the first attempt to infer the consequences on Productivity entailed by anticompetitive regulations in product and labor markets through their impacts on production prices and wages. Results show that changes in production prices and wages at country*industry levels are informative about the creation of rents impeding Productivity in different ways and to different extents. A simulation based on OECD regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from the implementation of large structural reform programs changing anticompetitive regulation practices on product and labor markets.
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Do Product Market Regulations in Upstream Sectors Curb Productivity Growth? Panel Data Evidence for OECD Countries
Review of Economics and Statistics, 2013Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:We identify the impact of intermediate goods markets imperfections on Productivity downstream. Our empirical specification is based on a model of Multifactor Productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a panel of fifteen OECD countries and twenty industries over 1985 to 2007. Competitive pressures are proxied with industry product market regulation data. We find evidence that anticompetitive upstream regulations have significantly curbed MFP growth over the past fifteen years, and more strongly so for observations that are close to the Productivity frontier.
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DO PRODUCT MARKET REGULATIONS IN UPSTREAM SECTORS CURB Productivity GROWTH? PANEL DATA EVIDENCE FOR OECD COUNTRIES
2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:The paper focuses on the influence of upstream competition for Productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve Productivity downstream, negatively affecting Productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a Multifactor Productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.
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do product market regulations in upstream sectors curb Productivity growth panel data evidence for oecd countries
National Bureau of Economic Research, 2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve Productivity downstream. We confirm such prediction by estimating a model of Multifactor Productivity growth in which the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that anticompetitive upstream regulations have curbed MFP growth over the past 15 years, more strongly so for observations that are close to the Productivity frontier.
Jimmy Lopez - One of the best experts on this subject based on the ideXlab platform.
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Product and Labour Market Regulations, Production Prices, Wages and Productivity
Review of Economics and Institutions, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is an attempt to evaluate the effects of product and labour market regulations on industry Productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for country*industry and country*year fixed effects, show that multi-factor Productivity is negatively and significantly influenced by both indicators of industrial prices from same industry and weighted average of industrial prices from other industries, and by indicators of country wages weighted by industry labour shares for low and high skilled workers. In a second stage, an economic policy simulation of the implications these results on the basis of their calibration by the OECD product and labour market anti-competitive regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from deregulation reforms.
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market regulations prices and Productivity
Research Papers in Economics, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:This study is, to our knowledge, the first attempt to infer the consequences on Productivity entailed by anticompetitive regulations in product and labor markets through their impacts on production prices and wages. Results show that changes in production prices and wages at country*industry levels are informative about the creation of rents impeding Productivity in different ways and to different extents. A simulation based on OECD regulation indicators suggests that nearly all countries could expect sizeable gains in Multifactor Productivity from the implementation of large structural reform programs changing anticompetitive regulation practices on product and labor markets.
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Do Product Market Regulations in Upstream Sectors Curb Productivity Growth? Panel Data Evidence for OECD Countries
Review of Economics and Statistics, 2013Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:We identify the impact of intermediate goods markets imperfections on Productivity downstream. Our empirical specification is based on a model of Multifactor Productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a panel of fifteen OECD countries and twenty industries over 1985 to 2007. Competitive pressures are proxied with industry product market regulation data. We find evidence that anticompetitive upstream regulations have significantly curbed MFP growth over the past fifteen years, and more strongly so for observations that are close to the Productivity frontier.
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DO PRODUCT MARKET REGULATIONS IN UPSTREAM SECTORS CURB Productivity GROWTH? PANEL DATA EVIDENCE FOR OECD COUNTRIES
2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:The paper focuses on the influence of upstream competition for Productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve Productivity downstream, negatively affecting Productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a Multifactor Productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.
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do product market regulations in upstream sectors curb Productivity growth panel data evidence for oecd countries
National Bureau of Economic Research, 2010Co-Authors: Renaud Bourlès, Jimmy Lopez, Gilbert Cette, Jacques Mairesse, Giuseppe NicolettiAbstract:Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve Productivity downstream. We confirm such prediction by estimating a model of Multifactor Productivity growth in which the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that anticompetitive upstream regulations have curbed MFP growth over the past 15 years, more strongly so for observations that are close to the Productivity frontier.
