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The impact of the financial crisis on new firm registration

Leora Klapper () and Inessa Love

No 5444, Policy Research Working Paper Series from The World Bank

Abstract: The authors use panel data on the number of new firm registrations in 95 countries to study the impact of the business environment and 2008 financial crisis on new firm registration. The data show that more dynamic formal business creation occurs in countries that provide entrepreneurswith a stable legal and regulatory regime, fast and inexpensive business registration process, more flexible employment regulations, and low corporate taxes. The data also show that nearly all countries experienced a sharp drop in business entry during the crisis. This drop is more pronounced in countries with higher levels of financial development and countries more affected by the crisis.

Keywords: Governance Indicators; E-Business; Emerging Markets; Environmental Economics&Policies; Economic Theory&Research (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec and nep-ent
Date: 2010-10-01
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Journal Article: The impact of the financial crisis on new firm registration (2011) Downloads
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