Rules versus Ihscretion: the Productivity Conseque!^:es of Flexible Regulation
نویسندگان
چکیده
Using data from electric utilities, this study shows that spanding on w e ^ regulations has a positive productivity impact but that spmdiag oa less w«ll-dw%ned regulations has a nagative aftMrt. Bettnr-daaigned ragulalfains are flsxihle and grant firms latitude on how to oieet goals, allow them time to d ^ l o y new means to meet goals, and set amhitious goals that stretch them beyond current practices.
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