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Carmen Pagés March 2011

Comments to “Do entry Regulations deter Entrepreneurship and Job C reation?: Evidence from Recent Reforms in Portugal” . Carmen Pagés March 2011. What does the paper do?. Evaluates experience of deregulation in Portugal using a D-D methodology .

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Carmen Pagés March 2011

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  1. Comments to “Do entry Regulations deter Entrepreneurship and Job Creation?: Evidence from Recent Reforms in Portugal” Carmen Pagés March 2011

  2. Whatdoes the paper do? • Evaluatesexperience of deregulation in Portugal using a D-D methodology. • It uses the factthat the programstarts at different times in differentmunicipalities. • It compares firmentry, employment in newlycreatedfirms and survival of new firms in ´treated´vs´untreated´ municipalities. • Italsoassesses the characteristics of firms and theirentrepreneurs for firmscreatedafterderegulation.

  3. What do theyfind? • The introduction of one stop shops isassociatedwith 17% increase in firmentry and a 22% increase in employment in new firms. • The increase comes fromfirms of 2 and 3-5 employees. No change for firms >5. • Firmswhichstartedafterprogramhadlowersurvivalrates(4 pp. less) • Increase in entry of female, older, and lesseducatedentrepreneurs.

  4. Are the resultsconvincing? • D-D methodologyusedalready in similar papers: Bruhn 2008; Kaplan et al, forthcoming. • Itdoesnotspecify# of “controls”. Howmanycountieswithoutchange? • It uses twotypes of specifications: • Zcmy = 1 fromopeningmonthafterwards, o otherwise. • Full set of dummies: Zlc=1 , l=-10….,0,1,…10, for example Z-1c =1 in the month prior to the opening of one stop shop

  5. Does is start before?

  6. Are the resultsconvincing? • Couldrunwith a trend, toassessimpact of otherfactorsthat lead towardshigherfirmentry in thisperiod. • Whathappenswhenperiod FE are introduced? • Probability of beinganentrepreneurlessthan 0.01. LPM badapproximation in the extremes. • Coud use a triple D-D-D modelusing as controls the industries in table A.1 (excluded).

  7. Couldalso examine: • Weretheseworkers/firmsalready active butunregistered/informal? • More likelygiven the types of firmsthatregistered • Were the entrepreneursemployeesbefore? • Whathappenedtooverallemployment? • Didemployment in continuingestablishments decline as a consequence of increasedcompetition? • Are the resultsbig/small? • Howmuchdoesimply in terms of % of total employment/economicactivity?

  8. In conclusion • A very nice paper with a very nice dataset… • Want to know more!

  9. THANKS!

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