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. This paper investigates how the access to finance affects employment in small and medium-sized enterprises (SMEs) in Sub … growing the fastest. The impact of access to finance is stronger for firms in manufacturing than in services, pointing to … sectoral targeting of finance as a possible policy supporting industrialization. …
Persistent link: https://www.econbiz.de/10012293404
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,...
Persistent link: https://www.econbiz.de/10011309136
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...
Persistent link: https://www.econbiz.de/10014445237
Entrepreneurship is usually identified as an important determinant of aggregate productivity and long-term growth. The determinants of entrepreneurship, nevertheless, are not entirely understood. A recent literature has linked entrepreneurship to the development of the justice system. This paper...
Persistent link: https://www.econbiz.de/10009315472
This paper analyzes how private decisions and public policies are shaped by personal and societal preferences ("values"), material or other explicit incentives ("laws") and social sanctions or rewards ("norms"). It first examines how honor, stigma and social norms arise from individuals'...
Persistent link: https://www.econbiz.de/10009530311
In this paper we use novel historical data on economics and social rights from the constitutions of 201 countries and an instrument variable strategy to answer two important questions. First, do economic and social rights provisions in constitutions reduce poverty? Second, does the strength of...
Persistent link: https://www.econbiz.de/10010488146
A large literature documents persistent impacts of formal historical institutions. However, very little is known about how these institutions interact with ancestral traditions to determine long-term economic and social outcomes. This paper addresses this question by studying the persistent...
Persistent link: https://www.econbiz.de/10012199043
This paper examines the effect of household access to microcredit upon work by seven to eleven year old children in rural Malawi. Given that microcredit organizations foster household enterprises wherein much child labor is engaged, this paper aims to discover whether access to microcredit might...
Persistent link: https://www.econbiz.de/10002764232
microloan program designed to finance entrepreneurial activities is active. It is shown that, in the presence of human capital …
Persistent link: https://www.econbiz.de/10009153583
This paper argues that the level of financial services provision determines the risk management strategies among the poor. The paper estimates the determinants of the household's use of one, two or all three types of microfinancial services applying ordered probit models and additionally probit...
Persistent link: https://www.econbiz.de/10009006945