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Heblich, Stephan - 2015

We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...

Persistent link: https://www.econbiz.de/10013014356

A Theory of Crowdfunding - A Mechanism Design Approach with Demand Uncertainty and Moral Hazard

Strausz, Roland - 2016

Crowdfunding provides innovation in enabling entrepreneurs to contract with consumers before investment. Under … information threatens this benefit. Despite these threats, popular crowdfunding schemes are able to implement optimal screening … mechanisms. Crowdfunding's after-markets enable consumers to actively implement deferred payments and thereby optimally manage …

Persistent link: https://www.econbiz.de/10012979605

Financial Constraints and Other Obstacles : Are They a Threat to Innovation Activity?

Mohnen, Pierre; Palm, Franz C.; van der Loeff, Sybrand Schim - 2021

In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms' decision to abandon, prematurely stop, seriously slow down,...

Persistent link: https://www.econbiz.de/10013316602

'By a Silken Thread' : Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession

Hoffmann, Mathias - 2013

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...

Persistent link: https://www.econbiz.de/10013087279

Drivers and Obstacles to Banking SMEs : The Role of Competition and the Institutional Framework

de la Torre, Augusto - 2009

Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to foster SME lending and attention has focused on...

Persistent link: https://www.econbiz.de/10013159698

Demography and Innovative Entrepreneurship

Bönte, Werner - 2007

Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...

Persistent link: https://www.econbiz.de/10012775851

Entrepreneurial Innovation and Sustained Long-Run Growth Without Weak or Strong Scale Effects

Grossmann, Volker - 2021

R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth ("strong scale effect") or the level of per capita income ("weak scale effect"), with far-reaching policy implications. However, for modern times there is little empirical support...

Persistent link: https://www.econbiz.de/10013316550

The Emergence of the Global Fintech Market : Economic and Technological Determinants

Haddad, Christian - 2016

We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available, capital markets...

Persistent link: https://www.econbiz.de/10012984457

Trust in Public Institutions Over the Business Cycle

Stevenson, Betsey - 2011

We document that trust in public institutions — and particularly trust in banks, business and government — has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...

Persistent link: https://www.econbiz.de/10013128039

Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - CESifo - 2011

We document that trust in public institutions—and particularly trust in banks, business and government—has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...

Persistent link: https://www.econbiz.de/10008872215

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