Abstract
Summary of the estimation results Theories Motivations Results Public interest Confirmed for low performing regions (gross regional product) Confirmed for high performing regions (entry barriers) Capture theory Confirmed for high performing regions (entry barriers) Economic regulation Confirmed for low performing regions (rent-seeking) Confirmed for high performing regions (entry barriers) Tollbooth theory Confirmed for low performing regions (rent-seeking) Confirmed for all set of regions (abuse of power) Confirmed for high performing regions (entry barriers) Conclusion of these results is that the sub-federal authorities did not act as benevolent; they were mostly motivated by self-interests. The sub-federal authorities' intervention was harmful for the high performing regions; the administrative regulation did not cure market failures and resulted in the creation of entry barriers for small business in these regions. However the sub-federal regulation was associated with higher production in the regions experienced difficulties with economic growth.
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