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Credit constraints, entrepreneurial talent, and economic development
- Source :
- Small Business Economics, Small Business Economics, Springer Verlag, 2010, 34 (1), pp.93-104. ⟨10.1007/s11187-009-9197-3⟩, Small Business Economics, Springer Verlag, 2010, pp.93-104
- Publication Year :
- 2010
- Publisher :
- Kluwer, 2010.
-
Abstract
- International audience; In this paper, we formalize the view that economic development requires high rates of productive entrepreneurship, and this requires an e¢ cient matching between entrepreneurial talent and production technologies. We rst explore the role of nancial development in promoting such e¢ cient allocation of talent, which results in higher production, job creation and social mobility. We then show how di¤er- ent levels of nancial development may endogenously arise in a setting in which nancial constraints depend on individual incentives to mis- behave, these incentives depend on how many jobs are available, and this in turn depends on the level of nancial development. Such com- plementarity between labor market and nancial market development may generate highly divergent development paths even for countries with very similar initial conditions.
- Subjects :
- Economics and Econometrics
Entrepreneurship
Economic growth
Matching (statistics)
Economic development
Allocation of entrepreneurial talent
Microeconomics
economic development
JEL: J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J24 - Human Capital • Skills • Occupational Choice • Labor Productivity
0502 economics and business
Economics
Production (economics)
050207 economics
B- ECONOMIE ET FINANCE
Job creation
ComputingMilieux_THECOMPUTINGPROFESSION
05 social sciences
Financial market
1. No poverty
Productive and unproductive entrepreneurs
JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
Social mobility
[SHS.ECO]Humanities and Social Sciences/Economics and Finance
General Business, Management and Accounting
Credit constraints
Incentive
Complementarity (molecular biology)
8. Economic growth
JEL: L - Industrial Organization/L.L2 - Firm Objectives, Organization, and Behavior/L.L2.L26 - Entrepreneurship
050203 business & management
economic development,Credit constraints,allocation of entrepreneurial talent,productive and unproductive entrepreneurs,economic development
Subjects
Details
- Language :
- French
- ISSN :
- 0921898X and 15730913
- Database :
- OpenAIRE
- Journal :
- Small Business Economics, Small Business Economics, Springer Verlag, 2010, 34 (1), pp.93-104. ⟨10.1007/s11187-009-9197-3⟩, Small Business Economics, Springer Verlag, 2010, pp.93-104
- Accession number :
- edsair.doi.dedup.....46a8bdac200dfb410b40f7e33ca5c141