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Stimulating managerial capital in emerging markets: the impact of business training for young entrepreneurs

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  • Miriam Bruhn
  • Bilal Zia

Abstract

Identifying the determinants of entrepreneurship is an important research and policy goal, especially in emerging market economies where lack of capital and supporting infrastructure often impose stringent constraints on business growth. This paper studies the impact of a comprehensive business and financial literacy programme on firm outcomes of young entrepreneurs in an emerging post-conflict economy, Bosnia and Herzegovina. The authors conduct a randomised control trial and find that, while the training programme did not influence business survival, it significantly improved business practices, investments and loan terms for surviving businesses. Female-run businesses further exhibited some improvements in business performance and sales.

Suggested Citation

  • Miriam Bruhn & Bilal Zia, 2013. "Stimulating managerial capital in emerging markets: the impact of business training for young entrepreneurs," Journal of Development Effectiveness, Taylor & Francis Journals, vol. 5(2), pages 232-266, June.
  • Handle: RePEc:taf:jdevef:v:5:y:2013:i:2:p:232-266
    DOI: 10.1080/19439342.2013.780090
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    References listed on IDEAS

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    1. Alejandro Drexler & Greg Fischer & Antoinette Schoar, 2014. "Keeping It Simple: Financial Literacy and Rules of Thumb," American Economic Journal: Applied Economics, American Economic Association, vol. 6(2), pages 1-31, April.
    2. Carpena,Fenella & Cole,Shawn A. & Shapiro,Jeremy & Zia,Bilal Husnain, 2015. "The ABCs of financial education : experimental evidence on attitudes, behavior, and cognitive biases," Policy Research Working Paper Series 7413, The World Bank.
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    Cited by:

    1. repec:pal:eurjdr:v:30:y:2018:i:4:d:10.1057_s41287-017-0085-4 is not listed on IDEAS
    2. Mckenzie,David J. & Paffhausen,Anna Luisa & Mckenzie,David J. & Paffhausen,Anna Luisa, 2017. "Small firm death in developing countries," Policy Research Working Paper Series 8236, The World Bank.
    3. Margaret Miller & Julia Reichelstein & Christian Salas & Bilal Zia, 2015. "Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature," World Bank Research Observer, World Bank Group, vol. 30(2), pages 220-246.
    4. Diwan, Faizan. & Makana, Grace. & McKenzie, David. & Paruzzolo, Silvia., 2015. "Women business training programme in Kenya : impact of incentives," ILO Working Papers 994874113402676, International Labour Organization.
    5. B. Mak Arvin & Byron Lew (ed.), 2015. "Handbook on the Economics of Foreign Aid," Books, Edward Elgar Publishing, number 15762, November.
    6. de Mel, Suresh & McKenzie, David & Woodruff, Christopher, 2014. "Business training and female enterprise start-up, growth, and dynamics: Experimental evidence from Sri Lanka," Journal of Development Economics, Elsevier, vol. 106(C), pages 199-210.
    7. Alejandro Drexler & Greg Fischer & Antoinette Schoar, 2014. "Keeping It Simple: Financial Literacy and Rules of Thumb," American Economic Journal: Applied Economics, American Economic Association, vol. 6(2), pages 1-31, April.
    8. Tamar Khitarishvili, 2016. "Gender Dimensions of Inequality in the Countries of Central Asia, South Caucasus, and Western CIS," Economics Working Paper Archive wp_858, Levy Economics Institute.
    9. Dalton, Patricio & Rüschenpöhler, Julius & Uras, Burak & Zia, Bilal, 2019. "Local Best Practices for Business Growth," Discussion Paper 2019-015, Tilburg University, Center for Economic Research.
    10. Lars Ivar Oppedal Berge & Kjetil Bjorvatn & Bertil Tungodden, 2015. "Human and Financial Capital for Microenterprise Development: Evidence from a Field and Lab Experiment," Management Science, INFORMS, vol. 61(4), pages 707-722, April.
    11. Cumurovic, Aida & Hyll, Walter, 2016. "Financial Literacy and Self-Employment," Annual Conference 2016 (Augsburg): Demographic Change 145732, Verein für Socialpolitik / German Economic Association.
    12. Premand, Patrick & Brodmann, Stefanie & Almeida, Rita & Grun, Rebekka & Barouni, Mahdi, 2016. "Entrepreneurship Education and Entry into Self-Employment Among University Graduates," World Development, Elsevier, vol. 77(C), pages 311-327.
    13. Tim Kaiser & Lukas Menkhoff, 2017. "Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?," World Bank Economic Review, World Bank Group, vol. 31(3), pages 611-630.
    14. Andreas Georgiadis & Christos N. Pitelis, 2016. "The Impact of Employees' and Managers' Training on the Performance of Small- and Medium-Sized Enterprises: Evidence from a Randomized Natural Experiment in the UK Service Sector," British Journal of Industrial Relations, London School of Economics, vol. 54(2), pages 409-421, June.
    15. Daichi Shimamoto & Yasuyuki Todo & Yu Ri Kim & Petr Matous, 2017. "Identifying and Decomposing Peer Effects on Decision-Making Using a Randomized Controlled Trial," Working Papers 1704, Waseda University, Faculty of Political Science and Economics.
    16. Higuchi, Yuki & Nam, Vu Hoang & Sonobe, Tetsushi, 2015. "Sustained impacts of Kaizen training," Journal of Economic Behavior & Organization, Elsevier, vol. 120(C), pages 189-206.
    17. repec:ksa:szemle:1756 is not listed on IDEAS
    18. Reeg, Caroline, 2015. "Micro and small enterprises as drivers for job creation and decent work," Discussion Papers 10/2015, German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
    19. Suzuki, Aya & Igei, Kengo, 2017. "Can Efficient Provision of Business Development Services Bring Better Results for SMEs?: Evidence from a Networking Project in Thailand," Working Papers 147, JICA Research Institute.
    20. Go Shimada & Tetsushi Sonobe, 2018. "Impacts of Kaizen Management on Workers: Evidence from Central America and the Caribbean Region," Working Papers 173, JICA Research Institute.

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