Thursday, May 14, 2020
The Impact of Regulation on Economic Growth in Developing...
THE IMPACT OF REGULATION ON ECONOMIC GROWTH IN DEVELOPING COUNTRIES: A CROSS-COUNTRY ANALYSIS 1 ABSTRACT The role of an effective regulatory regime in promoting economic growth and development has generated considerable interest among researchers and practitioners in recent years. In particular, building effective regulatory structures in developing countries is not simply an issue of the technical design of the most appropriate regulatory instruments, it is also concerned with the quality of supporting regulatory institutions and capacity. This paper explores the role of state regulation using an econometric model of the impact of regulation on growth. The results based on two different techniques of estimation suggest aÃ¢â¬ ¦show more contentÃ¢â¬ ¦The rest of the paper is organised as follows. Section 2 reviews issues in the literature pertinent to the debate on the role of regulation in economic growth, before turning to regulatory measures and proxies for the quality of regulation. In section 3 the models used are presented. Section 4 deals with a descriptive analysis of the data and reports the regression results. The results confirm that the quality of state regulation impacts positively on economic growth. development policy. Finally, section 5 provides conclusions and the implications for 5 2. LITERATURE REVIEW (a) Regulation Theory The theory of economic regulation developed from the nineteenth century and the literature is now vast (for recent reviews, see Laffont and Tirole, 1993, 2000; Levy and Spiller, 1994; Newbery, 1999). The case for economic regulation is premised on the existence of significant market failure resulting from economies of scale and scope in production, from information imperfections in market transactions, from the existence of incomplete markets and externalities, and from resulting income and wealth distribution effects. It has been suggested that market failures may be more pronounced, and therefore the case for public regulation is stronger, in developing countries (Stiglitz 1998). More recent theoretical contributions to the regulation literature have provided a model of regulation for network industries that recognises theShow MoreRelatedState Regulation On Uber And Cab Drivers Essay1322 Words Ã |Ã 6 Pageshistory of regulation could be traced back to the ancient civilizations such as standardized weights and measures in ancient Rome, paper currency system in China, and others including Egyptian, Indian and Greek (Plagiarism, Wikipedia: The Free Encyclopedia). In the modern society, governments choose to intervene to correct market failur e, to achieve an equitable distribution of income and wealth and to improve the performance of economy (Geoff, 2006), such as the debate on state regulation on UberRead MoreForeign Bank Entry Effect On Domestic Banking Essay1724 Words Ã |Ã 7 Pagesimportant to determine management planning and strategic analysis. Banks contribute to economic growth, so if the bank performance is outstanding, the overall economy will be strong. There are few studies have discussed the similar topic. Therefore, some of the articles are selected as a references. Ben Ukaegbu and Isaiah Oino (2014) conduct a comprehensive field of study on the impact of foreign bank entry on domestic banking in a developing country from the perspective of Kenyan. Using 19 banks levelRead MoreAs the Economy Grows, the Environment Degrades Essay2806 Words Ã |Ã 12 PagesIn the 1990s, the discourse on the relationship between economic growth and environmental degradation expanded exponentially (Cole Neumayer, 2005; Stern, 2003; 2004). Most of this intellectual confabulation revolved around the Environmental Kuznets Curve, a hypothesis that argues that environmental degradation would increase during an early economic development phase, eventually reaching the Ã¢â¬Ëturning pointÃ¢â¬â¢ where improvement in environmental conditions will begin. In other words, the graphicalRead MoreArticle Analysis: On the Contradictions of the New International Financial Architecture: Another Procrustean Bed for Emerging Markets?1404 Words Ã |Ã 6 Pageslarger contradictions of the capitalist inter-state system. A contradiction is the constant promotion of financial liberalization in emerging markets by US-led international financial institutions (IFIs), and the frequency of financial crises in the developing world, on the other. The article suggests that the NIFA is an attempt to stabilize and legitimate the scaffolding of the existing imperative of free capital mobility. Situations that arise in the case or article. External debt and domesticRead MoreThe Impact Of Trade Facilitation On Export Performance933 Words Ã |Ã 4 Pagestariff or quotas restriction apply by the host or trade destination country. Such barrier in trade makes the cost of trade raise, while efficiency is declines. Nowadays, as the world entered a new era of globalization, most of the countries has becomes more integrated through free trade agreement. The agreement may eliminate barriers in trade, but not all of the costs were diminish by the freer market especially in developing countries. Trade facilitation has become a global concern in the last decadeRead MoreEffects Of Economic Growth On Society1498 Words Ã |Ã 6 Pages1. INTRODUCTION 1.1 BACKGROUND The harmful effects and environmental problems resulting from impact of economic growth have increased concerns of environmentalists, shareholders, governmental bodies and society about environmental issues. Pressures from a variety of sources have come to bear on the companies to accept responsibility for impacts on society from business activities (Hackston and Milne, 1996). Companies are being urged to become accountable to a wider audience than shareholder and creditorRead MoreStrategy Analysis for Iron Ore Segment on BHP Billiton1614 Words Ã |Ã 7 PagesSTRATEGY ANALYSIS FOR IRON ORE SEGMENT OF BHP BILLITON 1. Company background, BHP Billion, a merging cooperation of BHP and Billion in 2010 (BHP Billiton, 2011), is a world leading company in mining and resource exploiting. According to ASX data, BHP Billion has the largest business scales in the Australian market, AU$166 billion of market capital and AU$71 billion of annual operating revenue in FY13 (Australian Securities Exchange, 2014). Over 128,800 employees and contractors work in 26Read MoreAnalysis Of The Board Of Directors For Tullow Oil Company1693 Words Ã |Ã 7 Pagesproduction company founded by Aidan Heavey in Tullow, Ireland in 1985. Having no knowledge of the industry and no major backers, Mr. Heavey had amassed Ã £1.7 million in revenues, operated in 8 countries and had 42 employees by 1986. As of November 2014, Tullow Oil Plc now holds 146 licenses in 22 different countries, 66 producing fields and has a workforce in excess of 2,000 worldwide. Tullow Oil has primary listing on the London Stock Exchange (LSE:TLW) and is a constituent of the FTSE 100 Index. ItRead MoreCross Cultural Communications And Negotiation Issues1210 Words Ã |Ã 5 Pagesu08a1 Project Ã¢â¬â Company Analysis Cross-Cultural Communications/Negotiation Issues That Need to be Addressed to Launch Maintain Business in China Some cross-cultural communication and negotiation issues that need to be addressed to launch and maintain business in China are: cultural diversity, ethical system, language, and intellectual property. First, our company must understand that ChinaÃ¢â¬â¢s and the United States cultures are different and we must understand these differences and take them intoRead MoreSupply Chain Management1599 Words Ã |Ã 7 Pagesnearer to markets 1 When to plan? No distribution network currently exists There has been no re-evaluation in 5 years When costs are changing rapidly, especially transport inventory When markets have shifted. When current distribution economics encourage shifts When there has been a major policy shift in logistics such as in price, customer service, or investment level. Logistics Strategy Ã¢â¬ ¢ The objectives of logistics strategy are: Ã¢â¬ ¢ Minimize Cost Ã¢â¬ ¢ Minimize Investments Ã¢â¬ ¢ Maximize
Posted by Unknown at 10:14 AM