However, at an economy-wide level, this is not necessarily because product regulation and employment protection discourage the entry of new firms.
The European Union directive on tobacco product regulation, which includes proposals to ban misleading "light" branding is currently in its final stages.
The reforms "should tackle weaknesses in product market regulation, labour market institutions, tax systems, and strengthen the single market, " the body said.
Within the OECD, it comes last or second-last for restrictive product-market regulation, excessive state control and barriers to entrepreneurship.
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Turkey is the worst in the OECD for excessive product-market regulation.
Using various indicators to gauge the stringency of product-market regulation and the cost of hiring and firing workers, the study finds strong evidence that heavy-handed regulation reduces productivity.
OECD's indicator of product-market regulation (ie, the extent of state ownership, the red tape involved in setting up a business, and barriers to international trade and investment) again puts India at the bottom of the class.
The main areas in which firms tend to want to lobby the commission competition policy, state aid, anti-dumping actions, product and market regulation are ones where decisions usually involve a pragmatic mixing of economic, political and legal arguments.
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Thirty years after Thatcherism began to work its cruel magic in Britain (see article), continental Europe still tends to favour a larger state, higher taxes, heavier regulation of product and labour markets and a more generous social safety-net than freer-market sorts like the Iron Lady would tolerate.
Perhaps the most important cause of the thriving black economy is excessive regulation of labour and product markets.
Nonetheless Andy Whitmore, the company's marketing director, said it would "welcome regulation that ensures the product can't be sold to anyone under the age of 18".
Whereas legitimate Mexican traders have free access to America and Canada via the North American Free-Trade Agreement (NAFTA), drug smugglers are granted tariff-free entry to every country in the world thanks to the Single Convention on Narcotic Drugs, which prohibits the regulation or taxation of their product.
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As now drafted, the proposed legislation includes annuities, disability insurance and long-care insurance within the definition of insurance product lines that could become the subject of federal regulation.
The right is generally happy to devolve decisions about education or health care to the states, notes Charles Fried, a professor of law at Harvard and former solicitor-general, but not product-liability rules and other forms of business regulation.
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Each firm operates in its own distinctive environment in which compensation formulas have to interact with the patterns of shareholder control, the type of direct regulation in place and the rapid movement in product markets.
Hedge funds, funds of funds and indeed funds of funds of funds created by pension consultants enjoy fees exponentially greater than any other financial product, as well as a lack of transparency and regulation that permit questionable secret compensation arrangements.
The experts shared opinions regarding the problems faced by journalist self-regulation bodies in examination of complaints surging from information product consumers and the experience of interaction with mass media professionals in solving conflict situations related to the violation of the standards of journalist ethics.
Japanese customers endured limited product choices and a horrendously outdated retail sector that were all protected by government regulation, all in the name of creating trade surpluses.
Often companies are even placed out of business when they are no longer able to offer a product, commodity or service at a reasonable price as a result of over-regulation.
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What used to happen is this: you've got a compliance team that sees this new regulation that we have to abide by, and then they write the product requirements to comply.
Regulation covers a broad range of government interventions (prohibition, antitrust, product specifications, transparency, use of particular institutional markets, and on and on), but in each case, it affects commerce that arises from willing and able buyers and sellers.
The CFPB would like to see some regulation of these folks, but I have a simpler plan: Require anyone who sells a financial product to become a fiduciary.
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