This paper provides a positive analysis of how formal, periodic legislative oversight of regulatory agencies can influence market outcomes and the welfare of regulated industries. Whereas previous research has focused on the political distinction between passive and active legislative oversight,...

The economic slowdown in the 70s in Latin America and Japan in the late 90s, generated a growing skepticism about the role of industrial policy in the process of economic development. Yet, new considerations have emerged over the recent period, which invite us to revisit the issue. This paper...

Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2007, we show that industrial policies allocated to competitive sectors or that foster competition in a sector increase productivity growth. We measure competition using the Lerner Index and include as...

Die Verfasser setzen sich mit der Gestaltung von Konkursregelungen in teilweise zentralisierten Wirtschaften unter Bedingungen unvollständiger Information auseinander. Sie entwickeln ein mathematisches Zwei-Phasen-Modell, das die Bestimmung optimaler Konkursregelungen und die Analyse ihrer...