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capital play on different types of entrepreneurship. As inequality increases, both forms of capital become weaker deterrents … of entry into necessity entrepreneurship, whereas for opportunity entrepreneurship, only financial capital becomes a … decreasing marginal returns on the likelihood of entry into necessity entrepreneurship, and that in the case of opportunity …
Persistent link: https://www.econbiz.de/10013025560
businesses over time. To this end, we use the Global Entrepreneurship Monitor (GEM) survey across 66 countries over 2005–2011. We …
Persistent link: https://www.econbiz.de/10012945470
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We develop a model of endogenous lobby formation in which wealth inequalityand political accountability undermine entry and financial development. In-cumbents seek a low level of effective investor protection to prevent potentialentrants from raising capital. They succeed because they can...
Persistent link: https://www.econbiz.de/10011338011
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Economic retardation in resource rich economies continues to elicit concerns among economists and development experts. This retardation has been linked to resource endowments and the neglect for institutions of governance in resource rich economies. This paper investigates the effects of...
Persistent link: https://www.econbiz.de/10012864323
In this paper, we introduce a twofold role for the public sector in the Goodwin (1967) model of the growth cycle. The government collects income taxes in order to: (a) invest in infrastructure capital, which directly affects the production possibilities of the economy; (b) finance publicly...
Persistent link: https://www.econbiz.de/10014117554
This work brings together two distinct pieces of evidence concerning, at the macro level, international distributions of incomes and their dynamics, and, at the micro level, the size distributions of firms and the properties of their growth rates. First, our empirical analysis provides a new...
Persistent link: https://www.econbiz.de/10003744955