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| Author: | Nykvist, J. |
| Title: | Entrepreneurship and liquidity constraints: Evidence from Sweden |
| Journal: | Scandinavian Journal of Economics
2008 : VOL. 110:1, p. 23-43 |
| Index terms: | entrepreneurship self-employment liquidity constraints wealth Scandinavia Nordic countries Sweden |
| Language: | eng |
| Abstract: | In this paper, a Hurst's and Lusardi's (2004) approach is replicated on Swedish data. There is found a positive relationship btw. wealth and entrepreneurship, supporting the liquidity constraints (henceforth as: liq-cntrs.) hypothesis. Alternative methods for handling the endogeneity problem and distinguishing btw. absolute decreasing risk aversion and liq-cntrs. lend further support to the hypothesis. Liq-cntrs. are suggested to exist in Sweden, being possibly more extensive than in the United States (U.S.). |
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