This paper shows that collateral constraints restrict firm entry and post-entry growth, even in the long-run. We use French administrative data and exploit cross-sectional variation in local house-price appreciation as shocks to the value of collateral available to homeowners. We control for...

This article by Raynauld Letourneau and Martine Lajoie of Industry Canada provides a detailed regional analysis of levels of living standards, measured as output per capita, and productivity (output per worker) for the 1995-97 period, the most recent data currently available. They find that all...