Firm heterogeneity and the allocation of resources across firms play a key role in
determining aggregate productivity. Entry barriers and misallocation can substantially impact …

Entrepreneurship and Financial Frictions: A Macrodevelopment Perspective | Annual Reviews
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A large portion of differences in output per capita across countries is explained by
differences in total factor productivity (TFP). In this article, we summarize a recent literature …

We use producer-level data to evaluate the role of financial frictions in determining total
factor productivity (TFP). We study a model of establishment dynamics in which financial …

I develop a highly tractable general equilibrium model in which heterogeneous producers
face collateral constraints, and study the effect of financial frictions on capital misallocation …

We develop a quantitative framework to explain the relationship between aggregate/sector-
level total factor productivity (TFP) and financial development across countries. Financial …

This paper examines the quantitative effects of gender gaps in entrepreneurship and
workforce participation. We simulate an occupational choice model with heterogeneous …

We develop a tractable framework for the analysis of the relationship between contractual
incompleteness, technological complementarities, and technology adoption. In our model, a …

We develop a micro-founded general equilibrium model with heterogeneous agents to
identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy …

The most striking difference in corporate‐governance arrangements between rich and poor
countries is that the latter rely much more heavily on the dynastic family firm, where …