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Why does a country's legal origin influence its firms' access to finance? Using data from over 4,000 firms in 38 … external finance than firms in common law countries. Next, their results indicate that French legal origin countries tend to … firms face in contracting for external finance than the political independence of the judiciary. So, they distinguish among …
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to finance has become an important issue for policymakers in Latin America. Small and medium enterprises (SMEs), in …
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Microcredit programs in Bangladesh have experienced spectacular growth in recent years, with a growing number of borrowers availing credit from multiple microcredit agencies. There is a growing concern that if there are not sufficient returns to borrowing from microfinance institutions (MFIS),...
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We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on firm age, size, industry, year, and employment history,...
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Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship between the number of investors and the amount...
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