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14
Entry barriers in retail trade
- Economic Journal, TD No
, 2007
"... The 1998 reform of the Italian retail trade sector delegated the regulation of entry of large stores to the regional governments. We use the local variation in regulation to determine the effects of entry barriers on sectoral performance. We address the endogeneity of entry barriers through local fi ..."
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Cited by 40 (1 self)
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The 1998 reform of the Italian retail trade sector delegated the regulation of entry of large stores to the regional governments. We use the local variation in regulation to determine the effects of entry barriers on sectoral performance. We address the endogeneity of entry barriers through local fixed effects and using political variables as instruments. We also control for differences in trends and for area-wide shocks. We find that entry barriers are associated with substantially larger profit margins and lower productivity of incumbent firms. Liberalising entry has a positive effect on investment in ICT, increases employment and compresses labour costs in large shops. In areas with more stringent entry regulation, lower productivity coupled with larger margins results in higher consumer prices. Liberalisation is arguably the most strongly advocated policy for improving economic performance, particularly in many service activities, where legal barriers to competition are widespread. Indeed, there is a consensus that anti-competitive regulation is the main cause of the US–Europe difference in productivity growth in the service sector in the recent years.1 This article considers the effects of entry regulation in the Italian retail trade sector. In addition to gaining insights on the effects of regulation in services in general, studying retail trade is of interest in itself. This sector employs approx-
UK Economic Performance Since 1997: Growth, Productivity and Jobs
, 2011
"... All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of the publisher nor be issued to the public or circulated in any form other than that in which it is published. ..."
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Cited by 4 (1 self)
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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of the publisher nor be issued to the public or circulated in any form other than that in which it is published.
Productivity dynamics and the role of “big-box” entrants in retailing
, 2009
"... Entry of large (“big-box”) stores along with a drastic fall in the total number of stores is a striking trend in retail markets. We use a dynamic structural model to estimate total factor productivity in retail. Then we assess whether entry of large stores drives exit and growth in the productivity ..."
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Cited by 3 (1 self)
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Entry of large (“big-box”) stores along with a drastic fall in the total number of stores is a striking trend in retail markets. We use a dynamic structural model to estimate total factor productivity in retail. Then we assess whether entry of large stores drives exit and growth in the productivity distribution of incumbents. Using detailed data on all retail food stores in Sweden, we find that local market characteristics, selection, and nonlinearities in the productivity process are important when estimating retail productivity. Large entrants force low productive stores to exit and surviving stores to increase their productivity growth. Growth increases most among incumbents in the bottom part of the productivity distribution, and then declines with the productivity level of incumbents. We use political preferences in local markets to control for endogeneity of large entrants. Our findings suggest that large entrants play a crucial role for driving productivity growth.
LAND USE REGULATION AND PRODUCTIVITY – LAND MATTERS: EVIDENCE FROM A UK SUPERMARKET CHAIN*
"... * We have benefited greatly from discussions with many colleagues and professional contacts: we would particularly like to mention Oliver Denk, Steve Gibbons, Robin ..."
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Cited by 2 (0 self)
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* We have benefited greatly from discussions with many colleagues and professional contacts: we would particularly like to mention Oliver Denk, Steve Gibbons, Robin
Land use regulation and productivity—land matters: evidence from a UK supermarket chain
"... We use store-specific data for a UK supermarket chain to estimate the impact of planning on store output. Exploiting the variation in policies between England and other UK countries, we isolate the impact of Town Centre First (TCF) policies introduced in England. We find they directly reduced output ..."
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We use store-specific data for a UK supermarket chain to estimate the impact of planning on store output. Exploiting the variation in policies between England and other UK countries, we isolate the impact of Town Centre First (TCF) policies introduced in England. We find they directly reduced output by forcing stores onto less productive sites. We estimate TCF policies imposed a loss of output of 32 % on a representative store opening after their rigorous implementation in 1996. Additionally, we show that, household numbers constant, more restrictive local authorities have fewer stores and lower chain sales within their areas.
Supermarket Entry and the survival of small stores *
"... Abstract We analyze the effect of supermarket entry on the exit of small stores in the food retailing sector in Montevideo between 1998 and 2007. By using detailed geographical information about supermarkets and smaller stores we are able to identify the link between entrants and the exit of nearby ..."
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Abstract We analyze the effect of supermarket entry on the exit of small stores in the food retailing sector in Montevideo between 1998 and 2007. By using detailed geographical information about supermarkets and smaller stores we are able to identify the link between entrants and the exit of nearby small stores. Entry of supermarkets using small to medium-size formats creates a competitive threat for the existing small stores, decreasing their probability of survival. The result is robust to several model specifications and varying definitions of what constitutes a supermarket. The impact of supermarket entry is unequivocal for butchers, bakeries, grocery and fresh pasta shops but significance varies with model specification for kiosks.
Economic and Social Research Council for financial support through the Centre for Economic Performance
, 2012
"... pdf prepared for the LSE Growth Commission. We would like to thank HEIF and the ..."
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pdf prepared for the LSE Growth Commission. We would like to thank HEIF and the
LAND USE REGULATION AND PRODUCTIVITY – LAND MATTERS LAND USE REGULATION AND PRODUCTIVITY – LAND MATTERS: EVIDENCE FROM A UK SUPERMARKET CHAIN
, 2012
"... We use unique store-specific data for a major UK supermarket chain to estimate the impact of planning, which restricts both the size and location of stores, on store output. Using the quasi-natural experiment of the variation in planning policies between England and other UK countries and a differen ..."
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We use unique store-specific data for a major UK supermarket chain to estimate the impact of planning, which restricts both the size and location of stores, on store output. Using the quasi-natural experiment of the variation in planning policies between England and other UK countries and a difference-in-difference approach, we isolate the impact of Town Centre First (TCF) policies. We find that space contributes directly to the productivity of stores and planning policies in England directly reduce output both by reducing store sizes and forcing stores onto less productive sites. Our results suggest that since the late 1980s planning policies have imposed a loss of total output of at least 18.3 to 24.9%. This is equivalent to more than a ‘lost decade ’ of output growth in a major sector generated directly by government policy. JEL codes:
ON HOUSE PRICES IN ENGLAND
, 2013
"... Department for Communities and Local Government for helpful comments and suggestions. We thank the Department for Communities and Local Government for kindly providing the regulatory raw data. We thank Richard Topf, Tim Leunig, Paul Cheshire, Yiannis Kaplanis and Matti Sarvimaki for providing additi ..."
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Department for Communities and Local Government for helpful comments and suggestions. We thank the Department for Communities and Local Government for kindly providing the regulatory raw data. We thank Richard Topf, Tim Leunig, Paul Cheshire, Yiannis Kaplanis and Matti Sarvimaki for providing additional data. Finally, we wish to thank the Editor, Frederic Vermeulen, for helpful guidance and two anonymous referees for
Visiting Fellow Southampton University
, 2011
"... All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of the publisher nor be issued to the public or circulated in any form other than that in which it is ..."
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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of the publisher nor be issued to the public or circulated in any form other than that in which it is
