We show that IPOs have non-trivial positive spillover effects on local labor markets, business environments, consumer spending, real estate, and migration. We mitigate endogeneity concerns about unobserved heterogeneity with restrictive geographic fixed effects coupled with a matching procedure....

We investigate the impact of relaxing listing requirements on firms' growth around initial public offerings (IPOs). Japan experienced several deregulations of listing requirements in the late 1990s. We use a dataset that covers both public and private firms for more than 30 years, which enables...

Based on the analysis of a new cross-country panel data from Africa and the Middle East for the time period between 1981 and 2015, we show that reductions in per capita income growth rate or domestic food production induced by climate variation significantly increase the probability of civil...