This paper explores how macroeconomic conditions affect firm dynamics in Egypt between 1911 and 1948 by constructing an extensive dataset of all companies ever founded in this period. By exploiting Egyptian economy's specialization in cotton exports, I use fluctuations in the world price of...

The relationship between legal forms of firm organization and economic development remains poorly understood. Recent research disputes the view that the joint-stock corporation played a crucial role in historical economic development, but retains the view that the costless firm dissolution...

The relationship between legal forms of firm organization and economic development remains poorly understood. Recent research disputes the view that the joint-stock corporation played a crucial role in historical economic development, but retains the view that the costless firm dissolution...