Abstract

CERQUEIRA, Patricia  and  ALVES, Ricardo Pinheiro. Market regulation by industrial licensing. Economia Global e Gestão [online]. 2010, vol.15, n.3, pp.109-134. ISSN 0873-7444.

Regulation is needed for market efficiency but if implemented in a deficient way it may alter corporate behaviour in a negative way to investment and economic growth. Changes to Portuguese law after 2003 aimed to simplify industrial licensing procedures, and the empirical analysis indicates that they partly explain a reduction in its term. However, in a similar way to other developed countries, Portuguese law is too focused on ex-post inspections, thus increasing the risk of an oversimplification of industrial licensing to lead to an insufficient market regulation.

Keywords : Market Regulation; Queuing Theory.

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