International Financial Integration And Entrepreneurial Firms Dynamics
- Topics:
- Foreign Direct Investment
- Tags:
- Currency & Foreign Exchange,
- Investment,
- Foreign Direct Investment (FDI),
- Financial Integration,
- Financial Accounting,
- Financial,
- Finance,
- Entrepreneurship,
- Entrepreneurial,
- Management
- Source:
- Harvard Business School
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Overview: This paper explores the relation between international financial integration and the level of entrepreneurial activity in a country. The results are robust to using various proxies for entrepreneurial activity such as entry, size, and skewness of the firm-size distribution; de jure and de facto measures of international capital integration; controlling for level of economic development, regulation, institutional constraints, and other variables that might affect the business environment; and using different empirical specifications. Further it explores various channels through which international financial integration can affect entrepreneurship (a foreign direct investment channel and a capital/credit availability channel) and provide consistent evidence to support the results.
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Format: PDF | Size: 446KB | Date: Dec 2006 | Pages: 54
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