What Makes Small Firms Grow? Finance, Human Capital, Technical Assistance, and the Business Environment in Romania

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dc.contributor.author Brown, J. David en_US
dc.contributor.author Earle, John S. en_US
dc.contributor.author Lup, Dana en_US
dc.date.accessioned 2006-08-01T15:53:47Z
dc.date.available 2006-08-01T15:53:47Z
dc.date.issued 2004-05-01 en_US
dc.identifier.other RePEc:wdi:papers:2004-702 en_US
dc.identifier.uri http://hdl.handle.net/2027.42/40088 en_US
dc.description.abstract Although the development of a new private sector is generally considered crucial to economic transition, there has been rather little empirical research on the determinants of startup firm growth. This paper uses panel data techniques to analyze a survey of 297 new small enterprises in Romania containing detailed information from the startup date through 2001. We find strong evidence that access to external credit increases the growth of both employment and sales. Taxes appear to constrain growth. The data suggest that entrepreneurial skills have little independent effect on growth, once demand conditions are taken into account, and there is only weak evidence for the effectiveness of technical assistance, and only when it is provided by foreign partners. A wide variety of alternative measures of the business environment (contract enforcement, property rights, and corruption) are tested, but none are found to have any clear association with firm growth. en_US
dc.format.extent 109626 bytes
dc.format.extent 3151 bytes
dc.format.extent 715902 bytes
dc.format.mimetype text/plain
dc.format.mimetype text/plain
dc.format.mimetype application/pdf
dc.language.iso en_US en_US
dc.relation.ispartofseries 702 en_US
dc.subject Small Firms, Entrepreneurship, Microfinance, Business Environment, Romania en_US
dc.subject.other M13, O16, O19, P26 en_US
dc.title What Makes Small Firms Grow? Finance, Human Capital, Technical Assistance, and the Business Environment in Romania en_US
dc.subject.hlbsecondlevel Economics en_US
dc.subject.hlbtoplevel Business en_US
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/40088/3/wp702.pdf en_US
dc.owningcollname William Davidson Institute (WDI) - Working Papers
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