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The Regulation of Entry

Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer
The Quarterly Journal of Economics
Vol. 117, No. 1 (Feb., 2002), pp. 1-37
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/2696481
Page Count: 37
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The Regulation of Entry
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Abstract

We present new data on the regulation of entry of start-up firms in 85 countries. The data cover the number of procedures, official time, and official cost that a start-up must bear before it can operate legally. The official costs of entry are extremely high in most countries. Countries with heavier regulation of entry have higher corruption and larger unofficial economies, but not better quality of public or private goods. Countries with more democratic and limited governments have lighter regulation of entry. The evidence is inconsistent with public interest theories of regulation, but supports the public choice view that entry regulation benefits politicians and bureaucrats.

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