A common finding in the entrepreneurship literature is that business creation increases in recessions. This counter-cyclical pattern is examined by separating business creation into two components: “opportunity” and “necessity” entrepreneursh
In advanced economies, state-owned enterprises play an important role in sectors of general interest such as energy and water supply. The conditions under which they operate have changed fundamentally since 1998, with new strategies required for ...
Private businesses’ nominal value added in Greece has fallen by 38 percent over the last ten years. Micro firms were hit particularly hard. Despite efforts to stabilize the macroeconomic environment, there are only weak signs of recovery. ...
(joint with André Stenzel and Peter Schmidt) We consider dynamic price-setting in the presence of rating systems and asymmetric information about product quality. We provide a framework in which the price charged determines the ...
Small entrepreneurs in developing countries have considerable shortcomings in their financial behavior which hinder their advancement. Thus interventions have been conducted in order to improve financial education and, in the end, financial behavior. ...
Workshop organization: Hans-Helmut Kotz (SAFE, Harvard) and Dorothea Schäfer (DIW Berlin) in cooperation with Horst Gischer, head of Forschungszentrums für Sparkassenentwicklung e.V. at the University of Magdeburg. The workshop is ...
This paper sheds new light on how African countries’ legal systems and institutions influence the governance and stability of their banks. We find that institutional factors, in particular the legal family of origin, political stability, contract .
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