What role does new firm entry play in economic growth? Are entrants and young firms more or less productive than incumbents, and how are their relative productivity dynamics affected by financial constraints and the business environment? This paper uses comprehensive manufacturing firm data from...

In this paper prepared for inclusion in the Oxford Handbook of the Russian Economy (Michael Alexeev and Shlomo Weber, eds.), we replicate, update, and extend our earlier work on manufacturing enterprise privatization and productivity in Russia. Our results suggest a more nuanced view of Russian...

This paper reports estimates of the effects of the Small Business Administration (SBA) 7(a) and 504 loan programs on employment, using a complete list of all SBA loans linked to annual data on all U.S. employers from 1976 to 2010. The estimation approach combines firm fixed effect regressions...

Why do the reported effects of privatization on firm performance vary so much? This paper re-estimates these effects and tests potential explanations for heterogeneity using comprehensive, long-panel data for 70,000 firms in five East European economies. Estimated average effects are positive,...