Financial Development Impact on Firm Dynamic Creation: Panel Data Evidence on MENA Countries

Yasmina Ghanem and Mohamed Achouche

International Economic Journal, 2017, vol. 31, issue 1, 94-111

Abstract: Using a panel of 14 MENA countries, this paper investigates and examines whether financial development trains a substantial effect on entrepreneurship development by facilitating the rise of new firms. Generalized Two-Stage Least Squares estimate results with instrumental variables highlight the relevance of developed financial systems for the creation of new firms. In overall, financial development and its component explained by the institutional quality exert a positive and significant effect on new entry density in oil MENA countries compared to non-oil ones.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:taf:intecj:v:31:y:2017:i:1:p:94-111

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DOI: 10.1080/10168737.2016.1245352

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