This paper examines the impact of start-up regulations and institutional quality on the level of new business activity in a panel of 119 countries between 2001 and 2012. We find robust evidence that new business creation is significantly lower in countries with excessive barriers to entry, a...

Presentation to the "The Future of the Federal Reserve", Center for Economic Policy Studies (CEPS), Princeton University, Princeton , N.J., April 02, 2005

Corporate governance practices differ greatly in the United States and Germany. This paper describes the main institutional features of the German corporate governance system, focusing on universal banks and codetermination. The paper also summarizes existing empirical evidence that has...