This study explores individual and country-level environmental drivers of informal quot;seedquot; investment. We examine four types of informal investors based on business ownership experience (or no such experience) and close family relationship with investee (or no such relationship):...

We examine the link between corporate financing and investment decisions of European firms by using a novel firm-level survey of the European Investment Bank (EIBIS). The survey provides rich quantitative information of a wide range of financing sources and tangible and intangible investment...

Die Corona-Krise trifft die deutsche Wirtschaft mit voller Wucht. Tiefe und Breite der Rezession lassen erwarten, dass die Erholung sehr schleppend verläuft. Für einen Neustart der Wirtschaft ist ein Konjunkturprogramm notwendig. Die Bundesregierung hat ein Paket im Umfang von alles in allem...

This paper investigates the causal relationship between corruption and fixed capital investment in Russian regions. The panel data on corruption allow to control for unobserved heterogeneity with fixed effects estimation. We address the problem of endogeneity by introducing novel instrumental...

This paper examines how labor frictions affect investment rate and new firm entry. Using matched employee-employer data from LinkedIn, I first show that increases in the enforceability of non-compete agreements lead to widespread declines in employee departures across seniority levels, driven by...

This paper studies how entrepreneurial capital illiquidity and incomplete financial markets interact to influence entrepreneurial savings and investment behavior, and in turn shape the wealth distribution. To that end, I construct an endogenous occupational choice model, in which an entrepreneur...

Die Corona-Krise trifft die deutsche Wirtschaft mit voller Wucht. Tiefe und Breite der Rezession lassen erwarten, dass die Erholung sehr schleppend verläuft. Für einen Neustart der Wirtschaft ist ein Konjunkturprogramm notwendig. Die Bundesregierung hat ein Paket im Umfang von alles in allem...

This paper investigates the causal relationship between corruption and fixed capital investment in Russian regions. The panel data on corruption allow to control for unobserved heterogeneity with fixed effects estimation. We address the problem of endogeneity by introducing novel instrumental...

Social capital plays a crucial role in the development processes of every country. Diyarbakýr, a metropolitan city in Turkey, and her hinterland had always been – and still is – one of the most developed centers of Anatolia and Middle East. But the city is experiencing a continual relapse...

After a severe crisis in the early 1990s, the Swedish economy experienced a boom in productivity growth. Economists have presented three explanations for the fast productivity growth in 1995–2004: market reforms, crisis recovery and the impact of information and communication technology (ICT)....