investment. Concomitantly, we show that poor institutions hamper risk sharing, but to an extent that decreases with openness. In … particular, risk sharing is prevalent even among economies with poor institutions, provided they are open to international …, capital flows headed for closed economies with poor institutions are designed and constrained so as to limit the cost incurred …

bias from survey responses by descendants of US immigrants on questions about the role of women in society. We then use …

We study the importance of information technology (IT) in banking for entrepreneurship. Guided by a parsimonious model …. We present evidence consistent with banks' IT adoption spurring entrepreneurship through a collateral channel …: entrepreneurship increases by more in IT-exposed counties when house prices rise. Further analysis suggests that IT improves banks …

% increase in home equity raises the probability of transition into entrepreneurship by up to 14%. Our results persist when we …