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The impact of the financial crisis on new firm registration
 
Author:Klapper, Leora; Love, Inessa; Collection Title:Policy Research working paper ; no. WPS 5444
Country:World; Date Stored:2010/10/12
Document Date:2010/10/01Document Type:Policy Research Working Paper
SubTopics:Governance Indicators; Environmental Economics & Policies; Emerging Markets; Economic Theory & Research; E-BusinessLanguage:English
Region:The World RegionReport Number:WPS5444
Volume No:1 of 1Related Dataset:World Bank Group Enterpreneurship Snapshot 2010: dataset;

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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