Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265240 
Year of Publication: 
2022
Series/Report no.: 
JRC Working Papers on Territorial Modelling and Analysis No. 03/2022
Publisher: 
European Commission, Joint Research Centre (JRC), Seville
Abstract: 
This study uses both econometric and modelling techniques to quantify the macroeconomic impact of regulatory reforms removing barriers in the European Single Market for services that have taken place in the European Union between 2006 and 2017. It also provides scenario analyses of the impact of a number of hypothetical additional reforms aimed at further reducing regulatory restrictions. The results of the modelling simulations indicate that the regulatory reforms implemented between 2006 and 2017 will result in discounted cumulative gains of 2.1% of GDP by the year 2027. Furthermore, ambitious additional reforms from 2017 onwards would generate an additional growth potential of 2.5% of GDP by 2027. Combining the realised and potential gains would result in a cumulative gain in GDP of 4.65% and a rise in employment of more than 300,000 full time equivalents by 2027. More conservative hypotheses on the additional reforms from 2017 onwards would lead to a GDP cumulative gain of 3.22% by 2027.
Subjects: 
Services regulation
general equilibrium modelling
Single Market
economic growth
JEL: 
C68
R13
Creative Commons License: 
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Document Type: 
Working Paper

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