The Impact of the Financial Crisis on New Firm Registration

The Impact of the Financial Crisis on New Firm Registration

The authors use panel data on the number of new firm registrations in 95 countries to study the impact of the business environment and 2008 financial crisis on new firm registration. The data show that more dynamic formal business creation occurs...

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Bibliographic Details
Main Authors:	Klapper, Leora, Love, Inessa
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCOUNTABILITY BANK CREDIT BANKRUPTCY BARRIER BARRIERS TO ENTRY BUSINESS ECONOMICS BUSINESS ENTRY BUSINESS ENVIRONMENT BUSINESS REGISTRATION BUSINESS REGISTRATIONS BUSINESS STRATEGY BUSINESSES CAPABILITIES CHAMBERS OF COMMERCE CORPORATE TAX CORPORATE TAXES CORRELATION MATRIX CORRUPTION COUNTRY CHARACTERISTICS COUNTRY DATA COUNTRY FIXED EFFECTS COUNTRY-LEVEL INDICATOR CREDIT RATING CREDIT RATIONING DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DOMESTIC ECONOMY E-MAIL ECONOMIC CENSUSES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC STRUCTURES ECONOMIC SYSTEMS ENTRY POINT EVOLUTIONARY ECONOMICS EXCHANGE RATE EXPLOITATION EXTERNAL FINANCE FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENTS FINANCIAL SUPPORT FIRM GROWTH GDP GDP PER CAPITA GLOBALIZATION GOVERNANCE INDICATORS GOVERNANCE MEASURES GOVERNMENT EFFECTIVENESS GOVERNMENT ENTITY GROWTH RATE GROWTH RATES INCOME INCOME GROUP INCOME GROUPS INCOME LEVEL INCOME LEVELS INFORMAL ECONOMY INSTITUTIONAL INVESTOR INSTITUTIONAL QUALITY INTEREST RATES INVESTMENT CLIMATE JOB CREATION LEGAL CONSTRAINTS LEGAL REGIMES LEGAL SYSTEMS LESS DEVELOPED COUNTRIES LIMITED LIABILITY COMPANIES LOCAL BUSINESS LOW INCOME COUNTRIES LOW-INCOME COUNTRIES LOWER INCOME COUNTRIES MACROECONOMIC VARIABLES MARKET ECONOMY MARKET ENTRY METADATA MIDDLE INCOME COUNTRIES OIL PHONE POLITICAL STABILITY PRIVATE EQUITY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT RED TAPE REGISTRIES REGISTRY REGULATORY ENVIRONMENT REGULATORY QUALITY REGULATORY REGIME RESULT RESULTS RULE OF LAW SMALL BUSINESS STANDARD UNIT OF MEASUREMENT STARTUPS STOCK PRICE TAX RATE TAXATION TIME FRAME TRANSMISSION TURNOVER USES WEB WORLD DEVELOPMENT INDICATORS
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_20101012085129 http://hdl.handle.net/10986/3926

Description
Summary:	The authors use panel data on the number of new firm registrations in 95 countries to study the impact of the business environment and 2008 financial crisis on new firm registration. The data show that more dynamic formal business creation occurs in countries that provide entrepreneurs with a stable legal and regulatory regime, fast and inexpensive business registration process, more flexible employment regulations, and low corporate taxes. The data also show that nearly all countries experienced a sharp drop in business entry during the crisis. This drop is more pronounced in countries with higher levels of financial development and countries more affected by the crisis.

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