effects of financial development on the entry of new firms and the expansion of successful new businesses. Drawing from … entry of small firms and in sectors that are more dependent upon external finance. This finding is robust to controlling for … other potential entry barriers (labor market regulations and entry regulations). On the other hand, financial development …

time effects. All countries display a massive reallocation of resources, with the entry and exit of many firms in all … market contestability. There are also large differences across groups of countries. While entry and exit rates are fairly … similar across industrial countries, post entry performance differs markedly between Europe and the U.S., a potential …

entry costs that can only by paid by more productive firms. …

We model entry by entrepreneurs into new markets in developing economies with regulatory barriers in the form of … licence fees and bureaucratic delay. Because laissez faire leads to ‘excessive’ entry, a licence fee can increase welfare by … discouraging entry. However, in the presence of a licence fee, bureaucratic delay creates a strategic opportunity, which can result …