Does financial development facilitate micro-entrepreneurship? Using randomized surveys of over 1 million Indian households and district-level bank branch location pre-determined by government policy, we find instead that financial access shifts workers from informal entrepreneurship into formal...

The impact of trade liberalization on manufacturing growth has been widely studied in the literature. What has gone unappreciated is that accelerated manufacturing growth has also been accompanied by accelerated services growth. Using firm-level data from India, we find a positive spillover from...