Stimulating Managerial Capital in Emerging Markets : The Impact of Business and Financial Literacy for Young Entrepreneurs
Identifying the determinants of entrepreneurship is an important research and policy goal, especially in emerging market economies where lack of capital and supporting infrastructure often imposes stringent constraints on business growth. This pape...
| Main Authors: | , |
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| Format: | Policy Research Working Paper |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110427082512 http://hdl.handle.net/10986/3406 |
| Summary: | Identifying the determinants of
entrepreneurship is an important research and policy goal,
especially in emerging market economies where lack of
capital and supporting infrastructure often imposes
stringent constraints on business growth. This paper studies
the impact of a comprehensive business and financial
literacy program on firm outcomes of young entrepreneurs in
an emerging post-conflict economy, Bosnia and Herzegovina.
The authors conduct a randomized control trial and find that
while the training program did not influence business
survival, it significantly improved business practices,
investments, and loan terms for surviving businesses.
Entrepreneurs with higher ex-ante financial literacy further
exhibited some improvements in business performance and sales. |
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