The impact of the financial crisis on new firm registration [electronic resource] / Love, Inessa
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TextPublication details: Washington, D.C., The World Bank, 2010Description: 1 online resource (35 p.)Subject(s): Accountability | Business environment | Corruption | Country data | E-Business | Economic development | Economic growth | Economic Theory & Research | Emerging Markets | Environment | Environmental Economics & Policies | Financial development | Financial information | Governance | Governance Indicators | Government effectiveness | Income | Institutional quality | Legal systems | Local business | Low income countries | Macroeconomics and Economic Growth | Market economy | Political stability | Private Sector Development | Regulatory quality | Regulatory regime | Rule of lawAdditional physical formats: Love, Inessa.: The impact of the financial crisis on new firm registration.Online resources: Click here to access online 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 entrepreneurs with 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.
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 entrepreneurs with 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.
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