In this paper, we review theory and evidence on the links between product market regulations that curb competitive pressures, the efficiency of resource allocation and productivity growth. We show that product market regulations differ across countries and industries and have evolved differently...

On the first of January 1993, the Second Banking Directive (1989) of the European Union and a number of the other EU Directives (1) related to the financial service industry were implemented. This heralded a new episode of deregulation, standardised minimum capital requirements and changes in...