Although entry regulation is ubiquitous across countries, comprehensive evaluations on the broad impacts of such … regulations on firm dynamics and productivity are lacking. We address the key identification challenge of policy endogeneity by …% and firm exit by 8.7% in the manufacturing sector. The productivity of post-reform entrants was 1.1% higher than the …

to keep up the sustained growth of productivity. Reforms that enhance competition in product markets are among those that … can potentially bring about significant productivity gains. China has been lowering the burden on start-ups and … capacity and waste of public money. A more level playing field would bring about efficiency-enhancing competition by private …