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Entrepreneurship and Financial Frictions: A Macrodevelopment Perspective

Author

Listed:
  • Francisco J. Buera

    (Federal Reserve Bank of Chicago, Chicago, Illinois 60604)

  • Joseph P. Kaboski

    (Department of Economics, University of Notre Dame, Notre Dame, Indiana 46556
    National Bureau of Economic Research, Cambridge, Massachusetts 01238)

  • Yongseok Shin

    (National Bureau of Economic Research, Cambridge, Massachusetts 01238
    Department of Economics, Washington University in St. Louis, St. Louis, Missouri 63130-4899
    Federal Reserve Bank of St. Louis, St. Louis, Missouri 63102)

Abstract

We review both the theoretical and empirical literature on entrepreneurship and financial frictions, with an emphasis on the heterogeneous and dynamic microlevel implications of financial frictions for macrodevelopment.

Suggested Citation

  • Francisco J. Buera & Joseph P. Kaboski & Yongseok Shin, 2015. "Entrepreneurship and Financial Frictions: A Macrodevelopment Perspective," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 409-436, August.
  • Handle: RePEc:anr:reveco:v:7:y:2015:p:409-436
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    More about this item

    Keywords

    productivity; misallocation; firm growth;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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