Limited access of entrepreneurs to credit constrains the creation and growth of private firms.In Africa, access to credit is particularly limited for small and medium enterprises (SMEs) dueto unclear property rights and the lack of assets that can be used as collateral. This paperpresents a...

In an open-shop model of trade union membership with heterogeneity in risk attitudes, a worker's relative risk aversion can affect the decision to join a trade union. Furthermore, a shift in risk attitudes can alter collective bargaining outcomes. Using German panel data (GSOEP) and three novel...