Why Differences In The Extent Of Regulation Across Countries Exist?
- Topics:
- Regulations
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Overview: Governments usually use regulations in order to better align both public and private interests in markets. Interestingly, international comparisons show that large cross-country differences exist in the overall macro extent of regulation of the economy. In this context, the main purpose of the paper is to investigate why such differences exist by identifying various economic, political, social and cultural factors that could potentially shape those differences. The analysis revealed that the macro extent of regulation decreases with income inequality in society, with the level of economic development, with the size of economy, with the share of transfer spending in GDP (Gross Domestic product) and with the share of government employment in labour force.
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Format: PDF | Size: 173KB | Date: Mar 2007 | Pages: 8
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