We estimate the impact of schooling and capital constraints at the time of startup on the performance of Dutch entrepreneurial ventures, taking into account the potential endogeneity and interdependence of these variables. Instrumental variable estimates indicate that a 1 percentage point...

This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greater share of economic activity. Not all countries, however, are experiencing...

Little empirical evidence provides insight in person-oriented drivers of business survival and success of small business owners. In this paper I perform a duration analysis of business survival amongst young white (selfemployed) small business owners in the U.S. Compulsory exits are...

This paper examines the relationship between firm births and job creation in Great Britain. We use a new data set for 60 British regions, covering the whole of Great Britain, between 1980 and 1998. The central theme of the paper is that, with the exception of a recent paper by Audretsch and...

We develop a model of endogenous lobby formation in which wealth inequality and political accountability undermine entry and financial development. In- cumbents seek a low level of effective investor protection to prevent potential entrants from raising capital. They succeed because they can...

In Europe, declining corporate tax rates have come along with rising tax-to-GDP ratios. This