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Author: Fabio Schiantarelli Publisher: ISBN: Category : Languages : en Pages :
Book Description
Most OECD countries have recently introduced product market reforms with the objective of lowering barriers to entry and increasing competition in many sectors, such as telecommunications, utilities, and transport. The timing and extent of regulatory reform have varied significantly, starting in the US in the early 1980s and in the mid-1990s in many European countries. Will these developments improve economic performance in terms of creating jobs, fostering investment, and encouraging innovations-all of which are important factors for policymakers?
Author: Fabio Schiantarelli Publisher: ISBN: Category : Languages : en Pages :
Book Description
Most OECD countries have recently introduced product market reforms with the objective of lowering barriers to entry and increasing competition in many sectors, such as telecommunications, utilities, and transport. The timing and extent of regulatory reform have varied significantly, starting in the US in the early 1980s and in the mid-1990s in many European countries. Will these developments improve economic performance in terms of creating jobs, fostering investment, and encouraging innovations-all of which are important factors for policymakers?
Author: Romain Bouis Publisher: International Monetary Fund ISBN: 1475540639 Category : Business & Economics Languages : en Pages : 26
Book Description
The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas, land transport, air transport, postal services, and telecommunications) in twenty-six countries spanning over three decades. The use of a threedimensional panel and careful instrumentation of reform shocks using external instruments enables us to control for economy-wide macroeconomic shocks and address possible sources of omitted variable bias more broadly. Using a local projection method, we find that major reductions in barriers to entry yield large increases in output and labor productivity over a five-year horizon, concomitant with a relative price decline. By contrast, there is only a weak positive effect on sectoral employment, and investment is essentially unaffected, suggesting that output gains from reform primarily reflect higher total factor productivity. It takes some time for these gains to materialize: effects become statistically significant two to three years after the reform, as prices start dropping, and productivity and output increase significantly. However, there is no evidence of any negative short-term cost from reform, including under weak macroeconomic conditions. These findings provide a clear case for intensifying product market reform efforts in advanced economies at the current juncture of weak growth.
Author: Charles Edquist Publisher: Edward Elgar Publishing ISBN: 1843762870 Category : Technology & Engineering Languages : en Pages : 226
Book Description
This book is an important addition to what can be broadly referred to as the national systems of innovation (NSI) approach. The particular contribution of the book is in the examination of the employment effects of innovation, something only indirectly considered hitherto. . . It is a thorough integration of existing knowledge on the key employment implications of innovation. . . Rachel Parker, Labour and Industry This is a highly readable, non-technical book . . . a highly clear and well-argued book that should be useful for policymakers and higher education alike. It brings together much of the most recent and useful literature in the area of innovation, employment and related public policy. It is an opportune addition to the existing documentation on the subject. Journal of Economics / Zeitschrift für Nationalökonomie Which kinds of growth lead to increased employment and which do not? This is one of the questions that this important volume attempts to answer. The book explores the complex relationships between innovation, growth and employment that are vital for both research into, and policy for, the creation of jobs. Politicians claiming that more rapid growth would remedy unemployment do not usually specify what kind of growth is meant. Is it, for example, economic (GDP) or productivity growth? Growing concern over jobless growth requires both policymakers and researchers to make such distinctions, and to clarify their employment implications. The authors initially address their theoretical approach to, and conceptualization of, innovation and employment, where the distinction between process and product innovations and between high-tech and low-tech goods and services are central. They go on to address the relationship between innovation and employment, using empirical material to analyse the effects that different kinds of innovations have upon job creation and destruction. Finally, the volume summarizes the findings and addresses conclusions as well as policy implications. This book will be of great interest to those involved in research and policy in the fields of macroeconomics (economic growth and employment), industrial economics and innovation.
Author: Daniel S. Hamermesh Publisher: Bloomsbury Publishing ISBN: 1472950712 Category : Business & Economics Languages : en Pages : 322
Book Description
Evidence-based Policy Making in Labor Economics distills and condenses the best thinking and research on labor economic issues to enable decision makers make better informed policy decisions. Written by well-known labor economists worldwide, research findings on key policy issues are presented in a compact and readable format, as distillations of comprehensive evidence-based research with concise policy recommendations. Designed to act as a quick reference, this guide brings together summaries of over 100 articles published on IZA World of Labor to give busy policymakers and political advisors worldwide instant access to reliable and up-to-date guidance on key policy topics including: asylum and immigration policy, youth unemployment and life-long learning, innovation, and technological change.
Author: OECD Publisher: OECD Publishing ISBN: 9264636951 Category : Languages : en Pages : 146
Book Description
This report presents evidence on recent trends in career mobility and the consequences for individual workers in terms of pay and other job characteristics.
Author: Ms.Era Dabla-Norris Publisher: International Monetary Fund ISBN: 1498334180 Category : Business & Economics Languages : en Pages : 58
Book Description
Total factor productivity growth was stagnant or slowing in many advanced countries even prior to the crisis. This paper documents sector-level productivity patterns across advanced economies prior to the crisis and examines the role of product and labor market rigidities as well as innovation and investments in information technology and human capital in driving productivity differences across sectors and countries. Since productivity payoffs of reforms evolve over time, we also focus on large changes in the structural indicators examine their dynamic impact on productivity, employment, and output. Our results suggest that reform priorities depend on country-specific settings, including the scale of specific policy distortions and the distance from the technology frontier. Productivity gains from reforms are large and materialize predominantly in the medium term, with some important variations across industries and countries.
Author: Ms.Lusine Lusinyan Publisher: International Monetary Fund ISBN: 1484373030 Category : Business & Economics Languages : en Pages : 29
Book Description
The paper uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina. The impact of product, labor, trade, and tax reforms on each supply-side channel—capital accumulation, labor utilization, and total factor productivity, proxied with an efficiency estimate—is assessed separately and then combined to derive the total impact on growth. The largest effect of structural reforms, involving regulatory changes that promote competition and facilitate flexible forms of employment, comes through the productivity/efficiency channel. Pro-competition regulation also improves labor utilization, while lower entry barriers and trade tariffs are important for capital accumulation. Structural reforms could have substantial effects on Argentina’s long-term GDP growth; for example, an ambitious reform effort to improve business regulatory environment would add 1–11⁄2 percent to average annual growth of GDP.
Author: Rachel Griffith Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
European Union countries have implemented widespread reforms to product markets to stimulate competition, innovation, and economic growth. We provide empirical evidence that the reforms carried out under the EU Single Market Programme (SMP) were associated with increased product market competition, as measured by a reduction in average profitability, and with a subsequent increase in innovation intensity and productivity growth for manufacturing sectors. Our analysis exploits exogenous variation in the expected impact of the SMP across countries and industries to identify the effects of reforms on average profitability, and the effects of profitability on innovation and productivity growth.
Author: Romain Bouis Publisher: ISBN: Category : Languages : en Pages : 27
Book Description
The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas, land transport, air transport, postal services, and telecommunications) in twenty-six countries spanning over three decades. The use of a three dimensional panel and careful instrumentation of reform shocks using external instruments enables us to control for economy-wide macroeconomic shocks and address possible sourcesof omitted variable bias more broadly. Using a local projection method, we find that major reductions in barriers to entry yield large increases in output and labor productivity over a five-year horizon, concomitant with a relative price decline. By contrast, there is only a weak positive effect on sectoral employment, and investment is essentially unaffected, suggesting that output gains from reform primarily reflect higher total factor productivity. It takes sometime for these gains to materialize: effects become statistically significant two to three years after the reform, as prices start dropping, and productivity and output increase significantly.However, there is no evidence of any negative short-term cost from reform, including underweak macroeconomic conditions. These findings provide a clear case for intensifying product market reform efforts in advanced economies at the current juncture of weak growth.
Author: Fabio Schiantarelli
Author: Fabio Schiantarelli
Author: Romain Bouis
Author: Charles Edquist
Author: Daniel S. Hamermesh
Author: OECD
Author: Ms.Era Dabla-Norris
Author: Ms.Lusine Lusinyan
Author: Rachel Griffith
Author: Romain Bouis
Author: