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Besley & Burgess (2004) Regulation and Development 3. Post 2000 emerging consensus: with emphasis on the following a) governance and accountability . . . how policies are formulated and implemented is important b) political economy . . . ensuring that preferences of citizens reflected in policy c) institutional change . . . working with the “rules of the game” . . . taking into account economics, law, culture and politics d) microeconomics of growth . . . focus on property rights . . . engendering productivity and innovation . . . expansion of productive opportunities These changes reflected in changing thinking on the role of state and specif- ically the role of regulation in engendering economic prosperity 2.3 Besley & Burgess (2004)
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Unformatted text preview: Can Labor Regulation Hinder Economic Performance? Evidence from In-dia Question: Is a strong link between regulation and economic performance? Indian states have pursued different regulatory paths and have had very different economic performance ⇒ both time-series and cross-sectional variation in regulation- labour regulations of interest in the paper that the paper looks at affects a particular sector, i.e., registered manufacturing.- it does not affect ±rms below a certain size- performance in the manufacturing sector is central to economic growth and poverty reduction Asian countries that have grown rapidly from a low base Development Economics, LSE Summer School 2007 29...
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