Entry regulation as a barrier to entrepreneurship

被引：745
|
作者：
Klapper, Leora
Laeven, Luc
Rajan, Raghuram
机构：
[1] Int Monetary Fund, Washington, DC 20431 USA
[2] World Bank, Washington, DC 20433 USA
[3] Ctr Econ Policy Res, London EC1V 7RR, England
[4] Univ Chicago, Grad Sch Business, Chicago, IL 60637 USA
[5] Natl Bur Econ Res, Cambridge, MA 02138 USA
来源：
JOURNAL OF FINANCIAL ECONOMICS | 2006年 / 82卷 / 03期
基金：
美国国家科学基金会;
关键词：
entrepreneurship; business incorporation; regulatory barriers; economic growth;
D O I：
10.1016/j.jfineco.2005.09.006
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using a comprehensive database of European firms, we study the effect of market entry regulations on the creation of new limited-liability firms, the average size of entrants, and the growth of incumbent firms. We find that costly regulations hamper the creation of new firms, especially in industries that should naturally have high entry. These regulations also force new entrants to be larger and cause incumbent firms in naturally high-entry industries to grow more slowly. Our results hold even when we correct for the availability of financing, the degree of protection of intellectual property, and labor regulations. (c) 2006 Elsevier B.V. All rights reserved.
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页码：591 / 629
页数：39
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