| 000 | 02696nam a2200337 a 4500 | ||
|---|---|---|---|
| 005 | 20181210070931.0 | ||
| 007 | cr ||||||||||| | ||
| 008 | 060113s2006 dcu sb i000 0 eng | ||
| 010 | _a 2005705518 | ||
| 040 |
_aDLC _cDLC _dBD-DhBPA |
||
| 050 | 0 | 0 | _aHG3881.5.W57 |
| 082 |
_a388.15 _bAYH 2006 |
||
| 100 | 1 |
_aAyyagari, Meghana _9107909 |
|
| 245 | 1 | 0 |
_aHow important are financing constraints ? the role of finance in the business environment _c Meghana Ayyagari, Vojislav Maksimovic,Asli Demirguc-Kunt. |
| 260 |
_aWashington, D.C. : _bWorld Bank, _c2006 |
||
| 300 |
_a59 p. ; _c23 cm. |
||
| 490 | 1 |
_aPolicy research working paper ; _v3820 |
|
| 500 | _aTitle from PDF file as viewed on 1/13/2006. | ||
| 504 | _aIncludes bibliographical references. | ||
| 520 | 3 | _a"What role does the business environment play in promoting and restraining firm growth? Recent literature points to a number of factors as obstacles to growth. Inefficient functioning of financial markets, inadequate security and enforcement of property rights, poor provision of infrastructure, inefficient regulation and taxation, and broader governance features such as corruption and macroeconomic stability are discussed without any comparative evidence on their ordering. In this paper, the authors use firm level survey data to present evidence on the relative importance of different features of the business environment. They find that although firms report many obstacles to growth, not all the obstacles are equally constraining. Some affect firm growth only indirectly through their influence on other obstacles, or not at all. Using Directed Acyclic Graph methodology as well as regressions, the authors find that only obstacles related to finance, crime, and political instability directly affect the growth rate of firms. Robustness tests further show that the finance result is the most robust of the three. These results have important policy implications for the priority of reform efforts. They show that maintaining political stability, keeping crime under control, and undertaking financial sector reforms to relax financing constraints are likely to be the most effective routes to promote firm growth. "--World Bank web site. | |
| 530 | _aAlso available in print. | ||
| 538 | _aSystem requirements: Adobe Acrobat Reader. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 590 | _aZahid | ||
| 650 | 0 |
_aBusiness enterprises _xFinance _xMathematical models. _9108779 |
|
| 700 | 1 |
_aMaksimovic, Vojislav _9107911 |
|
| 700 | 1 |
_a Demirguc-Kunt., Asli _9104539 |
|
| 710 | 2 |
_aWorld Bank. _9108780 |
|
| 830 | 0 |
_aPolicy research working papers (Online) ; _v3820. _9108781 |
|
| 942 |
_2ddc _cBK |
||
| 999 |
_c37861 _d37861 |
||