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 …

enter in year t are less productive than incumbent firms in year t. (H3) Surviving firms from an entry cohort were more …

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 …

be expected to have a positive impact on productivity, thereby making entry (or contestability of markets) desirable …. Traditional research in the context of entry has explored the strategic reactions of incumbent firms when threatened by the … possibility of entry. However, following De Soto (1989), there has been increasing emphasis on regulatory and institutional …