Market Liberalization, Regulatory Uncertainty, and Firm Investment

被引：1

作者：

Baumann, Florian ^{[1
]}

Friehe, Tim ^{[2
]}

机构：

[1] Univ Tubingen, Fac Econ & Social Sci, D-72074 Tubingen, Germany

[2] Univ Konstanz, Constance, Germany

来源：

GERMAN ECONOMIC REVIEW | 2012年 / 13卷 / 03期

关键词：

Regulatory uncertainty; investment; market entry; minimum wage; COST UNCERTAINTY; RISK;

D O I：

10.1111/j.1468-0475.2012.00564.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper analyzes the effects of regulatory uncertainty regarding labor costs on investment in a liberalized market. We distinguish between the external investment margin (market entry) and the internal investment margin (technology), and establish that regulatory uncertainty affects these margins differently, encouraging market entry, but discouraging technological investment. As a consequence, the impact of regulatory uncertainty on competition in liberalized markets is a combination of these two countervailing forces.

引用

页码：352 / 361

页数：10

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