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Financial Development, Gender and Entrepreneurship

  • Llussá, Fernanda

Female entrepreneurs are much less frequent than male entrepreneurs. In this paper we investigate a possible culprit: access to financial services. We use a dataset with entrepreneurship rates by opportunity and by need from the Global Entrepreneurship Monitor and indicators of financial institutions from Beck, Demirgüç-Kunt and Levine (2000) for 41 developed and developing countries from 2001 to 2004. Our conclusions are that financial development, though generally encouraging entrepreneurial activity, is unlikely, by itself, to contribute to bring male and female entrepreneurship rates closer together. Moreover, our results suggest that it is entrepreneurship by need that is most affected by financial development, suggesting that the possible more complex aspects of evaluating projects associated with market or technological opportunities are not overcome by aggregate financial development and need more specific measures.

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File URL: https://mpra.ub.uni-muenchen.de/26228/1/MPRA_paper_26228.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26228.

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Date of creation: Oct 2009
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Handle: RePEc:pra:mprapa:26228
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  2. Silvia Ardagna & Annamaria Lusardi, 2010. "Explaining International Differences in Entrepreneurship: The Role of Individual Characteristics and Regulatory Constraints," NBER Chapters, in: International Differences in Entrepreneurship, pages 17-62 National Bureau of Economic Research, Inc.
  3. David B. Audretsch & Werner Bönte & Prashanth Mahagaonkar, 2009. "Financial Signaling by Innovative Nascent Entrepreneurs," Jena Economic Research Papers 2009-012, Friedrich-Schiller-University Jena.
  4. Alberto F. Alesina & Francesca Lotti & Paolo Emilio Mistrulli, 2008. "Do Women Pay More for Credit? Evidence from Italy," NBER Working Papers 14202, National Bureau of Economic Research, Inc.
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  6. Cassar, Gavin, 2004. "The financing of business start-ups," Journal of Business Venturing, Elsevier, vol. 19(2), pages 261-283, March.
  7. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December.
  8. Simeon Djankov & Yingyi Qian & Gérard Roland & Ekaterina Zhuravskaya, 2006. "Entrepreneurship in China and Russia Compared," Journal of the European Economic Association, MIT Press, vol. 4(2-3), pages 352-365, 04-05.
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  11. Levine, Ross & Loayza, Norman & Beck, Thorsten, 1999. "Financial intermediation and growth : Causality and causes," Policy Research Working Paper Series 2059, The World Bank.
  12. Alesina, Alberto & Giuliano, Paola, 2007. "The Power of the Family," IZA Discussion Papers 2750, Institute for the Study of Labor (IZA).
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  14. Becker, Gary S., 1971. "The Economics of Discrimination," University of Chicago Press Economics Books, University of Chicago Press, edition 2, number 9780226041162, June.
  15. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
  16. Simeon Djankov & Edward Miguel & Yingyi Qian & Gérard Roland & Ekaterina Zhuravskaya, 2005. "Who are Russia's Entrepreneurs?," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 587-597, 04/05.
  17. Beck, Thorsten & Levine, Ross, 2002. "Industry growth and capital allocation:*1: does having a market- or bank-based system matter?," Journal of Financial Economics, Elsevier, vol. 64(2), pages 147-180, May.
  18. Rousseau, Peter L & Wachtel, Paul, 1998. "Financial Intermediation and Economic Performance: Historical Evidence from Five Industrialized Countries," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(4), pages 657-78, November.
  19. Simeon Djankov & Yingyi Qian & Gérard Roland & Ekaterina Zhuravskaya, 2006. "Who Are China's Entrepreneurs?," American Economic Review, American Economic Association, vol. 96(2), pages 348-352, May.
  20. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 717-737.
  21. Cavalluzzo, Ken S & Cavalluzzo, Linda C, 1998. "Market Structure and Discrimination: The Case of Small Businesses," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(4), pages 771-92, November.
  22. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June.
  23. Paul Wachtel & Peter Rousseau, 1994. "Financial Intermediation and Economic Growth: A Historical Comparison of the U.S., U.K. and Canada," Working Papers 94-04, New York University, Leonard N. Stern School of Business, Department of Economics.
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