101 research outputs found
Sovereign Bond Market Reactions to Fiscal Rules and No-Bailout Clauses – The Swiss Experience
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Greasing the wheels? The impact of regulations and corruption on firm entry
This paper investigates the question of whether corruption might ‘grease the
wheels’ of an economy. We investigate whether and to what extent the impact of regulations
on entrepreneurship is dependent on corruption. We first test whether regulations robustly
deter firm entry into markets. Our results show that the existence of a larger number
of procedures required to start a business, as well as larger minimum capital requirements
are detrimental to entrepreneurship. Second, we test whether corruption reduces the negative
impact of regulations on entrepreneurship in highly regulated economies. Our empirical
analysis, covering a maximum of 43 countries over the 2003–2005 period, shows that corruption
facilitates firm entry in highly regulated economies. For example, the ‘greasing’
effect of corruption kicks in at around 50 days required to start a new business. Our results
thus provide support for the ‘grease the wheels’ hypothesis
How to Spend Public Money Efficiently: A Cost-Effectiveness Model Illustrated Using the EU’s “Youth”-Program
Efficiency, Effectiveness, Public sector management, Institutions, Cost-effectiveness analysis, H11, H43, H52, H87,
What Can We Learn from Comparative Institutional Analysis? The Case of Telecommunications: A Note
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