New Firm Registration and the Business Cycle
This paper uses new panel data on the number of new firm registrations in 109 countries during 2002-2012 to study the relationship between entrepreneurship and economic growth. The data show strong evidence of a pro-cyclical pattern in entrepreneur...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/02/18931036/new-firm-registration-business-cycle http://hdl.handle.net/10986/17318 |
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okr-10986-173182021-04-23T14:03:37Z New Firm Registration and the Business Cycle Klapper, Leora Love, Inessa Randall, Douglas ACCOUNT ACCOUNTS AGGREGATE DEMAND BUSINESS CYCLE BUSINESS CYCLES BUSINESS ECONOMICS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS FORMATION BUSINESS INDICATORS BUSINESS OWNERSHIP BUSINESS REGISTRATION BUSINESS REGULATION BUSINESSES CHAMBERS OF COMMERCE COMPETITIVENESS CONSUMER DEMAND CREDIT CARDS DEVELOPED COUNTRIES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE ENTERPRISE DEVELOPMENT ENVIRONMENTS FINANCIAL INSTITUTIONS FINANCIAL SUPPORT FINANCIAL SYSTEMS GLOBAL ECONOMY GOVERNMENT ENTITY GOVERNMENT POLICY INNOVATION INTERNATIONAL COMPARISON LICENSE NET WORTH OPEN ACCESS OPPORTUNITY COSTS PHONE POLICY MAKERS POLITICAL ECONOMY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY REGISTRIES REGISTRY REGULATORY ENVIRONMENT RESULT RESULTS SEARCH STARTUPS TIME PERIOD TRANSMISSION UNEMPLOYMENT UNEMPLOYMENT RATES USES WAGES This paper uses new panel data on the number of new firm registrations in 109 countries during 2002-2012 to study the relationship between entrepreneurship and economic growth. The data show strong evidence of a pro-cyclical pattern in entrepreneurship. An examination of heterogeneous relationships between new firm registration and the business cycle finds that higher levels of financial development and better business environments are associated with stronger pro-cyclicality of entrepreneurship both across countries and within countries over time. The results are robust to various measures of business regulation, such as the cost and time of starting a new firm and closing an insolvent firm. These findings suggest that fostering an efficient regulatory environment for the financial and private sector is important for encouraging a speedier recovery in the formation of new firms during economic expansions and aiding the efficient wind-down of insolvent firms during economic slowdowns. 2014-03-18T20:55:58Z 2014-03-18T20:55:58Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/18931036/new-firm-registration-business-cycle http://hdl.handle.net/10986/17318 English en_US Policy Research Working Paper;No. 6775 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNT ACCOUNTS AGGREGATE DEMAND BUSINESS CYCLE BUSINESS CYCLES BUSINESS ECONOMICS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS FORMATION BUSINESS INDICATORS BUSINESS OWNERSHIP BUSINESS REGISTRATION BUSINESS REGULATION BUSINESSES CHAMBERS OF COMMERCE COMPETITIVENESS CONSUMER DEMAND CREDIT CARDS DEVELOPED COUNTRIES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE ENTERPRISE DEVELOPMENT ENVIRONMENTS FINANCIAL INSTITUTIONS FINANCIAL SUPPORT FINANCIAL SYSTEMS GLOBAL ECONOMY GOVERNMENT ENTITY GOVERNMENT POLICY INNOVATION INTERNATIONAL COMPARISON LICENSE NET WORTH OPEN ACCESS OPPORTUNITY COSTS PHONE POLICY MAKERS POLITICAL ECONOMY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY REGISTRIES REGISTRY REGULATORY ENVIRONMENT RESULT RESULTS SEARCH STARTUPS TIME PERIOD TRANSMISSION UNEMPLOYMENT UNEMPLOYMENT RATES USES WAGES |
| spellingShingle |
ACCOUNT ACCOUNTS AGGREGATE DEMAND BUSINESS CYCLE BUSINESS CYCLES BUSINESS ECONOMICS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS FORMATION BUSINESS INDICATORS BUSINESS OWNERSHIP BUSINESS REGISTRATION BUSINESS REGULATION BUSINESSES CHAMBERS OF COMMERCE COMPETITIVENESS CONSUMER DEMAND CREDIT CARDS DEVELOPED COUNTRIES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE ENTERPRISE DEVELOPMENT ENVIRONMENTS FINANCIAL INSTITUTIONS FINANCIAL SUPPORT FINANCIAL SYSTEMS GLOBAL ECONOMY GOVERNMENT ENTITY GOVERNMENT POLICY INNOVATION INTERNATIONAL COMPARISON LICENSE NET WORTH OPEN ACCESS OPPORTUNITY COSTS PHONE POLICY MAKERS POLITICAL ECONOMY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY REGISTRIES REGISTRY REGULATORY ENVIRONMENT RESULT RESULTS SEARCH STARTUPS TIME PERIOD TRANSMISSION UNEMPLOYMENT UNEMPLOYMENT RATES USES WAGES Klapper, Leora Love, Inessa Randall, Douglas New Firm Registration and the Business Cycle |
| relation |
Policy Research Working Paper;No. 6775 |
| description |
This paper uses new panel data on the
number of new firm registrations in 109 countries during
2002-2012 to study the relationship between entrepreneurship
and economic growth. The data show strong evidence of a
pro-cyclical pattern in entrepreneurship. An examination of
heterogeneous relationships between new firm registration
and the business cycle finds that higher levels of financial
development and better business environments are associated
with stronger pro-cyclicality of entrepreneurship both
across countries and within countries over time. The results
are robust to various measures of business regulation, such
as the cost and time of starting a new firm and closing an
insolvent firm. These findings suggest that fostering an
efficient regulatory environment for the financial and
private sector is important for encouraging a speedier
recovery in the formation of new firms during economic
expansions and aiding the efficient wind-down of insolvent
firms during economic slowdowns. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Klapper, Leora Love, Inessa Randall, Douglas |
| author_facet |
Klapper, Leora Love, Inessa Randall, Douglas |
| author_sort |
Klapper, Leora |
| title |
New Firm Registration and the Business Cycle |
| title_short |
New Firm Registration and the Business Cycle |
| title_full |
New Firm Registration and the Business Cycle |
| title_fullStr |
New Firm Registration and the Business Cycle |
| title_full_unstemmed |
New Firm Registration and the Business Cycle |
| title_sort |
new firm registration and the business cycle |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/02/18931036/new-firm-registration-business-cycle http://hdl.handle.net/10986/17318 |
| _version_ |
1764436864340590592 |