Honorati, Maddalena; Mengistae, Taye - Economics Research, World Bank Group - 2007
This paper estimates a dynamic business growth equation on a sample of small-scale manufacturers. The results suggest … business growth seem also to depend on a fourth element, namely, corruption. Specifically, labor regulation affects the growth … only of enterprises for which corruption is not a factor in business decisions. By contrast, power shortages seem to be a …