Why did countries with a better business environment control COVID19 better?

By Eric Thomson Hong Kong during COVID19. Photo by Elton Yung on Unsplash Jacinda Ardern has been widely praised for her swift COVID19 response that has made New Zealand a poster child for tackling the virus. Now, New Zealand’s economy is set for a quicker rebound than most other Western countries, who continue to grapple – often unsuccessfully […]

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Business Red Tape and the Economy

How much does bureaucracy hurt incomes? A lot. <p class="has-drop-cap" value="<amp-fit-text layout="fixed-height" min-font-size="6" max-font-size="72" height="80"> But how exactly does bureaucracy distort the economy, and how much? Unnecessary bureaucracy and red tape require businesses to put additional labour and capital towards tasks that are, in effect, “unproductive” for the economy. Time spent dealing with paperwork cannot […]

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The Macroeconomic Impacts of Industrial Regulation

How can governments analyse the broader economic effects of proposed regulations in an interconnected economy? Governments change hundreds if not thousands of regulations and laws every year, ostensibly to protect citizens’ health and safety and to assure the proper functioning of free markets. These regulations are only effective with compliance, which necessarily means that businesses […]

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Monitoring and Evaluation: Bad Indicators lead to Bad Policy Making

Justin Peters over at Slate asks a very good question, “Will Arresting People Who Aren’t Very Drunk Reduce Drunk-Driving Fatalities?“. In regulation development, if a previous restricting policy policy did little to meet the policy objective, it makes little sense to make an even stricter policy. A stricter policy will just create more costs or […]

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The Cost of Regulatory Opacity

The Canadian government’s recent blocking of the sale of Progress Energy Resources to Malaysian state-owned Petronas has raised calls to act on the vagueness of the “net benefit” test applied to mergers in Canada over $331 million. The lack of clear criteria for this net benefit test has serious economic implications for investment in Canada. […]

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