It is widely assumed that pervasive credit market failures mean that a person's current wealth is critical to whether or not that person can take up opportunities to start a new business. The authors show that inequality in wealth can be either good or bad for the level of entrepreneurship in an economy, depending on how diminishing returns to capital interact with borrowing constraints at the microeconomic level. They use nonparametric regression...
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2001/01/31
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Рабочий документ в рамках исследования вопросов политики
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WPS2527
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1
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1
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2010/07/01
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Is inequality bad for business : a non-linear microeconomic model of wealth effects on self-employment
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return migrant
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