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Institutions, financial development, and small business survival : evidence from European emerging markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2020

In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of...

Persistent link: https://www.econbiz.de/10012304241

Commanding nature by obeying her : a review essay on Joel Mokyr's A Culture of Growth

Spolaore, Enrico - 2019

Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...

Persistent link: https://www.econbiz.de/10012035061

Distressed acquisitions : evidence from European emerging markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2021

We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007–2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality...

Persistent link: https://www.econbiz.de/10012508593

Social organizations and political institutions : why China and Europe diverged

Mokyr, Joel; Tabellini, Guido Enrico - 2023

Western Europe. An important factor, recognized in the literature, is that China centralized state institutions very early on …, while Europe remained politically fragmented for much longer. These initial differences, however, were amplified by the … different social organizations (clans in China, corporate structures in Europe) that spread in these two societies at the turn …

Persistent link: https://www.econbiz.de/10014265605