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| Author: | Mesnard, A. Ravallion, M. |
| Title: | The wealth effect on new business startups in a developing economy |
| Journal: | Economica
2006 : VOL. 73:291, p. 367-392 |
| Index terms: | new enterprise small business self-employment wealth models developing countries Africa |
| Language: | eng |
| Abstract: | In this paper, non-linearities are tested in the wealth effect on self-employment (hereafter as: s-empl.), as can arise from startup costs or liquidity constraints. Using both non-parametric and parametric methods, it is shown that the relationship btw. the probability of a return migrant to Tunisia starting up a business and the stock of his savings repatriated at return is (mainly) concave for almost the entire range of our data. The results suggest that the aggregate s-empl. rate is an increasing function of aggregate wealth, but a decreasing function of wealth inequality. |
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