The Drivers of Deregulation in the Era of Globalization

Friedrich Heinemann

No 06-012, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: This paper treats the question to what extent globalization trends restrict a countryspecific regulation policy in industrial countries. The empirical analysis makes use of recently collected regulation indicators for four policy fields: financial market, product markets, labour markets and trade. After a short discussion of the link between globalization and deregulation and a descriptive view at the correlations, a panel analysis for OECD countries for the period 1975 to 2001 is executed. The evidence shows that globalization in the narrow sense of trade openness and capital mobility has a rather limited impact as an immediate driver of deregulation. However, in a wider sense globalization definitions also comprise the easier flow of knowledge and information across borders resulting in more effective cross-border learning processes.

Keywords: economic policy reforms; structural reforms; regulation (search for similar items in EconPapers)
JEL-codes: E63 H00 (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-reg
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:4591

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