Business regulation and labor market performance around the world

Feldmann, Horst

doi:10.1007/s11149-007-9040-1

Cited by 37 publications

(28 citation statements)

References 40 publications

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“…Institutional limits on redundant worker dismissals are not found to affect migration to the United States in a statistically significant manner. These results complement findings in Feldmann (2008), where difficulties of hiring and firing workers are reported to be unrelated to employment levels.…”

Section: Resultssupporting

confidence: 87%

“…Those outcomes show a loss of $27.83 trillion in the GNI per capita of studied countries as a consequence of the regulatory burdens (Licerio et al 2010). Feldmann (2008) studies the effects of economic regulations on labor markets. The hypothesis indicates that labor market inflexibility motivates firms to utilize more capital intensive processes.…”

Section: Literature Reviewmentioning

confidence: 99%

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An Empirical Analysis of Migratory Flows to the United States

Uribe

Felipe²

2014

AEF

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The decision by economic migrants to leave their country of origin for the purpose of employment and to improve quality of life is generally regarded as an investment decision. Real or expected income differentials between the source and the host country and the possibilities of being employed in each influence the decision to migrate. Economic migrants also respond to non-pecuniary factors, such as climate, environmental amenities, and life cycle variables. This paper examines how labor market regulations may influence work migration to the United States. The hypothesis is that the negative effects of excessive labor market regulations on income reported by Fullerton et al. (2007) and Licerio et al. (2010) will increase migration to countries with more flexible and less restrictive regulatory labor markets. Data from the Doing Business 2010 report describing labor market conditions in several countries and territories during 2010 are employed to describe labor market restrictiveness in 168 countries. Four models are specified to measure the effects of labor market restrictiveness on migration. Deviance Information Criterion (DIC) estimates are utilized to select the best specification for modeling migration to the United States. Empirical results confirm many of the hypotheses, but some of the outcomes are relatively weak.

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Section: Resultssupporting

confidence: 87%

Section: Literature Reviewmentioning

confidence: 99%

An Empirical Analysis of Migratory Flows to the United States

Uribe

Felipe²

2014

AEF

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“…In theory, a free economy is defined as the so-called "Arrow-Debreu world," where economy efficiency is guaranteed in general equilibrium (Arrow and Debreu, 1954;McKenzie, 1959;Hart, 1980). In empirical studies, economic freedom has been investigated in other macroeconomic areas, especially those on economic growth (Gwartney et al, 1999;Haan and Sturm, 2000;Heckelman, 2000;Wu and Davis, 1999), income equality (Berggren, 1999;Scully, 2002) and employment (Feldmann, 2007(Feldmann, , 2008.…”

Section: Introductionmentioning

confidence: 99%

Economic freedom and IPO underpricing

Chen

Wang

Tong

et al. 2017

Front. Bus. Res. China

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This paper examines how the difference in institutional environments constitutes differential IPO underpricing across countries. Using the Heritage Foundation's Index of Economic Freedom (IEF) as a proxy for the heterogeneous institutional environment, and a sample of 3728 IPOs from 22 countries and regions over the period 1993-2014, we find that countries with higher economic freedom have significantly less serious IPO underpricing problems. Moreover, we find that among the 10 economic freedom factors covered by theIEF, financial freedom related factors play a more important role in reducing the IPO underpricing problem. Finally, consistent with the market sentiment hypothesis, we find strong evidence that pre-IPO market sentiment influences IPO firstday returns, and that the IPO underpricing problem is less severe when the market is bearish.

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“…All of this is likely to lower employment and increase unemployment. Using data on more than 70 countries, Feldmann (2006bFeldmann ( , 2008Feldmann ( , 2009b found evidence corroborating this hypothesis.…”

Section: Dependent and Control Variablesmentioning

confidence: 79%