The economic benefits of regulatory reform
OECD Economic Studies No. 28, 1997/I. This paper assesses the potential impact of regulatory reform in five sectors (electricity, air and road transport, telecommunications and distribution) on sectoral and economy-wide performance in five OECD countries, namely the United States, Japan, Germany, France and the United Kingdom. The estimates suggest scope for significant efficiency and GDP gains, particularly in the more heavily regulated economies of Japan, Germany and France. The effects of reform remain difficult to assess, however, in particular with respect to the dynamic benefits. The paper also discusses the transition costs that may be associated with regulatory reform, including the possible effects on employment.
Long abstract
