Regulation, institutions and productivity: new macroeconomic evidence from OECD countries
"Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with...
| Main Author: | |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Paris
2017
OECD |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19287300124910055829-Regulation,-institutions-and-p.htm |
| _version_ | 1771659899397210113 |
|---|---|
| author | Egert, Balázs |
| author_facet | Egert, Balázs |
| collection | Library items |
| description | "Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a special emphasis on product and labour market policies and the quality of institutions. For a panel of OECD countries, we find that anticompetitive product market regulations are associated with lower MFP levels and that higher innovation intensity and greater openness go in tandem with higher MFP. We also find that the impact of product market regulations on MFP may depend on the level of labour market regulations. Better institutions, a more business friendly environment and lower barriers to trade and investment amplify the positive impact of R&D spending on MFP. Finally, we also show that cross-country MFP variations can be explained to a considerable extent by cross-country variation in labour market regulations, barriers to trade and investment and institutions (including corruption)." |
| format | TEXT |
| geographic | OECD countries |
| id | 19287300124910055829_19a5305b706641a18f5c6e44185f4762 |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19287300124910055829_19a5305b706641a18f5c6e44185f4762 |
| is_hierarchy_title | Regulation, institutions and productivity: new macroeconomic evidence from OECD countries |
| language | English |
| physical | 30 p. Digital |
| publishDate | 2017 |
| publisher | Paris OECD |
| spellingShingle | Egert, Balázs macroeconomics productivity regulation labour market policy Regulation, institutions and productivity: new macroeconomic evidence from OECD countries |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=128245794642 |
| title | Regulation, institutions and productivity: new macroeconomic evidence from OECD countries |
| topic | macroeconomics productivity regulation labour market policy |
| url | https://www.labourline.org/KENTIKA-19287300124910055829-Regulation,-institutions-and-p.htm |