Entry barriers and their macroeconomic impact in the EU: an assessment using QUEST III
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Organización Internacional del Trabajo (OIT)
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| Natura: | Reporte |
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International Labour Organization
01/01/2017
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| _version_ | 1874525240562810883 |
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| author | Miguel Sanchez Martinez |
| author_facet | Miguel Sanchez Martinez Miguel Sanchez Martinez |
| contents | Entry barriers and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez Entry barriers make markets less contestable and thereby reduce competition, resulting in lower TFP, GDP and employment growth. Following the Lisbon strategy, Member States increasingly adopted measures to reduce the costs of starting a business. This paper quantifies the macroeconomic impact of such policies and identifies the main structural characteristics still driving the differences across Member States. In general, countries with high entry barriers and a less developed R&D sector seem to benefit proportionally more from a reduction of the so-called red tape barriers. Growth of GDP, TFP and employment could be further enhanced by also improving access to finance. Countries with a more developed R&D sector experience stronger growth in the long run when the reduction of the red tape barriers is accompanied by an improved access to finance.
JRC.B.7-Knowledge for Finance, Innovation and Growth Publications Office of the European Union 10.2760/722488 DOI https://doi.org/10.2760/722488 publication.report |
| format | Reporte |
| id | ilo_995232142702676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 01/01/2017 |
| publisher | International Labour Organization |
| spellingShingle | Entry barriers and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez Entry barriers and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez Entry barriers make markets less contestable and thereby reduce competition, resulting in lower TFP, GDP and employment growth. Following the Lisbon strategy, Member States increasingly adopted measures to reduce the costs of starting a business. This paper quantifies the macroeconomic impact of such policies and identifies the main structural characteristics still driving the differences across Member States. In general, countries with high entry barriers and a less developed R&D sector seem to benefit proportionally more from a reduction of the so-called red tape barriers. Growth of GDP, TFP and employment could be further enhanced by also improving access to finance. Countries with a more developed R&D sector experience stronger growth in the long run when the reduction of the red tape barriers is accompanied by an improved access to finance. JRC.B.7-Knowledge for Finance, Innovation and Growth Publications Office of the European Union 10.2760/722488 DOI https://doi.org/10.2760/722488 publication.report |
| title | Entry barriers and their macroeconomic impact in the EU: an assessment using QUEST III |
| url | https://researchrepository.ilo.org/esploro/outputs/report/Entry-barriers-and-their-macroeconomic-impact/995232142702676 |