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| Author: | Meza, D. de Webb, D. |
| Title: | Wealth, enterprise and credit policy |
| Journal: | Economic Journal
1999 : APR, VOL. 109:455, p. 153-163 |
| Index terms: | WEALTH ENTERPRISE CREDIT ECONOMIC POLICY |
| Language: | eng |
| Abstract: | This study shows that the suggestion that capital-market constraints prevent low-wealth individuals from setting up in business, is consistent with socially excessive lending and an interest-rate tax being welfare improving. A market equilibrium in which there is a positive relationship between entry and the level of wealth is consistent with either subsidies to inactivity or taxes on interest raising welfare. |
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