This intuition has been confirmed by a few studies of sectoral developments using a set of indicators that measure differences in the regulatory restrictions of non-manufacturing sectors of OECD countries. 10 By and large, these studies find that highly regulated environments tend to be associated with lower investment and productivity growth.
11 A  10  P. Conway and G. Nicoletti (2006), “Product market regulation in non-manufacturing sectors in OECD countries: measurement and highlights,” OECD Economics Department Working Paper 530.