The Role of Regulation on Entry

This paper studies the effects of differences in local administrative burdens in Italy in the years 2005–2007 preceding a major reform that sped up firm registration procedures. Combining regulatory data from a survey on Italian provinces before the reform (costs and time to start a business) with i...

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1. Verfasser:	Bripi, Francesco
Format:	Artikel
Sprache:	eng
Schlagworte:	ACCESS TO CREDIT ADMINISTRATIVE BARRIERS ADMINISTRATIVE BURDENS ADVANCED ECONOMIES AGRICULTURE AIR AIR TRANSPORT BANK BANK COMPETITION BANK CREDIT BANKRUPTCY BARRIERS TO ENTRY BENCHMARK BENCHMARKS BIAS BINDING BUREAUCRATIC OBSTACLES BUSINESS ACTIVITIES BUSINESS CAPITAL BUSINESS OPPORTUNITIES BUSINESS OPPORTUNITY BUSINESS OWNERS CAPITAL CASH FLOW CHARACTERISTICS OF BUSINESS OWNERS CLASSIFICATION COMMUNICATION COMMUNICATIONS COMPUTER CONCEPT COOPERATION CORRUPTION COSTS CREDIT CREDIT AVAILABILITY CREDITOR CREDITORS DATA DEBT DEREGULATION DESCRIPTION DEVELOPMENT DEVELOPMENT ECONOMICS DEVELOPMENT POLICY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC SYSTEM ECONOMIC SYSTEMS EMPLOYEES EMPLOYMENT GROWTH ENDOGENOUS VARIABLES ENTERPRISE ENTERPRISES ENTREPRENEUR ENTREPRENEURIAL ACTIVITIES ENTREPRENEURS ENTRY EXPENDITURE EXPORTS EXTERNAL FINANCE EXTERNAL FINANCING FEES FINANCE FINANCIAL DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING FUEL GDP GOODS GROWTH OPPORTUNITIES GROWTH RATE HOUSEHOLD HOUSEHOLDS INCOME INDEX INDEXES INTEREST INTERNAL FUNDS INTERNATIONAL BANK JOB CREATION LAND TRANSPORT LIQUIDITY LOAN MEASUREMENT MOTOR VEHICLES MULTINATIONAL NEW BUSINESS NEW BUSINESSES NOISE OBJECT PEOPLE PER CAPITA INCOME POLITICAL ECONOMY PRIVATE CREDIT PROBABILITY PROPERTY PUBLISHING REAL ESTATE RED TAPE REGRESSION ANALYSIS REPAIR REPAIRS RESEARCHER REVENUE SAVING START-UP START-UP COSTS START-UPS TAX TELECOMMUNICATIONS TRADE TRANSPORT TRANSPORT ACTIVITIES TRANSPORT EQUIPMENT TRAVEL VALUE VALUE ADDED VARIABLES VEHICLES WEB
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Beschreibung
Zusammenfassung:	This paper studies the effects of differences in local administrative burdens in Italy in the years 2005–2007 preceding a major reform that sped up firm registration procedures. Combining regulatory data from a survey on Italian provinces before the reform (costs and time to start a business) with industry-level entry rates of limited liability firms, it explores the effects of regulatory barriers on the average of the annual entry rates across industries with different natural propensities to enter the market. The estimates of the cross-sectional analysis show that lengthier and, to some extent, more costly procedures reduced entry in sectors with naturally high entry. A one-day delay in registration procedures reduces the entry rate in highly dynamic sectors by more than 1 percent. These results hold when I include measures of local financial development and of efficiency of bankruptcy procedures are included.