{"title":"The heterogenous effects of a higher volume of regulation: evidence from more than 200k Spanish norms","authors":"","doi":"10.1007/s11149-023-09466-x","DOIUrl":null,"url":null,"abstract":"<h3>Abstract</h3> <p>We analyze the aggregate economic impacts, as well as the heterogeneous effects on the different types of enterprises, of the increasing volume of regulation observed in Spain between 1995 and 2000. Our novel database classifies more than 200,000 regulations adopted at the region level for 13 industries (sectors) of the Spanish economy. Exploiting this database, we are able to estimate the exposure to regulation of enterprises located in different Spanish regions. We find that an increase in the volume of regulations has an impact on economic activity, reducing employment. Entry of new firms in sectors-regions exposed to higher regulation is also lower. These effects are heterogeneous across firms, with negative effects concentrated in smaller and more recently established firms. This evidence emphasizes the importance of both the aggregate and distributional impact of the changing (increasing) volumes of regulation.</p>","PeriodicalId":47149,"journal":{"name":"Journal of Regulatory Economics","volume":"55 1","pages":""},"PeriodicalIF":1.4000,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Regulatory Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s11149-023-09466-x","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We analyze the aggregate economic impacts, as well as the heterogeneous effects on the different types of enterprises, of the increasing volume of regulation observed in Spain between 1995 and 2000. Our novel database classifies more than 200,000 regulations adopted at the region level for 13 industries (sectors) of the Spanish economy. Exploiting this database, we are able to estimate the exposure to regulation of enterprises located in different Spanish regions. We find that an increase in the volume of regulations has an impact on economic activity, reducing employment. Entry of new firms in sectors-regions exposed to higher regulation is also lower. These effects are heterogeneous across firms, with negative effects concentrated in smaller and more recently established firms. This evidence emphasizes the importance of both the aggregate and distributional impact of the changing (increasing) volumes of regulation.
期刊介绍：
Recent legislative and policy reforms have changed the nature of regulation. Partial deregulation has created a new dimension to regulatory problems, as the debate is extended to include diversification and new forms of regulation. The introduction of incentive-based rate schedules and ratemaking procedures, the integration of demand-side programs with planning for capitol expansion, and other developments, raise a host of theoretical and empirical questions. The Journal of Regulatory Economics serves as a high quality forum for the analysis of regulatory theories and institutions by developing the rigorous economics foundations of regulation. Both theoretical and applied works, including experimental research, are encouraged. Research in all aspects of regulation is of interest including traditional problems of natural monopoly, antitrust and competition policy, incentive regulation, deregulation, auction theory, new policy instruments, health and safety regulation, environmental regulation, insurance and financial regulation, hazardous and solid waste regulation, universal service obligation, and consumer product regulation. The JRE provides researchers, policy-makers, and institutions with current perspectives on the theory and practice of economics of regulation. While there are a number of journals and magazines that include the study of regulation, the JRE is unique in that it fills a gap in the market for a high quality journal dealing solely with the economics of regulation.Officially cited as: J Regul Econ
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