The Impact of Credit Substitution Between Banks on Investment
In: Bank of Italy Temi di Discussione (Working Paper) No. 1408
8 Ergebnisse
Sortierung:
In: Bank of Italy Temi di Discussione (Working Paper) No. 1408
SSRN
In: Bank of Italy Occasional Paper No. 523
SSRN
Working paper
This paper studies the effects of differences in local administrative burdens in Italy in the years 2005–2007 preceding a major reform that sped up firm registration procedures. Combining regulatory data from a survey on Italian provinces before the reform (costs and time to start a business) with industry-level entry rates of limited liability firms, it explores the effects of regulatory barriers on the average of the annual entry rates across industries with different natural propensities to enter the market. The estimates of the cross-sectional analysis show that lengthier and, to some extent, more costly procedures reduced entry in sectors with naturally high entry. A one-day delay in registration procedures reduces the entry rate in highly dynamic sectors by more than 1 percent. These results hold when I include measures of local financial development and of efficiency of bankruptcy procedures are included.
BASE
In: Bank of Italy Temi di Discussione (Working Paper) No. 932
SSRN
Working paper
In: Robert Schuman Centre for Advanced Studies Research Paper No. RSCAS 2020/39
SSRN
Working paper
In: Structural change and economic dynamics
ISSN: 1873-6017
In: Bank of Italy Occasional Paper No. 676
SSRN
In: STRECO_2022_00224
SSRN