Love, InessaKlapper, Leora2012-03-192012-03-192010-10-01https://hdl.handle.net/10986/3926The authors use panel data on the number of new firm registrations in 95 countries to study the impact of the business environment and 2008 financial crisis on new firm registration. The data show that more dynamic formal business creation occurs in countries that provide entrepreneurs with a stable legal and regulatory regime, fast and inexpensive business registration process, more flexible employment regulations, and low corporate taxes. The data also show that nearly all countries experienced a sharp drop in business entry during the crisis. This drop is more pronounced in countries with higher levels of financial development and countries more affected by the crisis.CC BY 3.0 IGOACCOUNTABILITYBANK CREDITBANKRUPTCYBARRIERBARRIERS TO ENTRYBUSINESS ECONOMICSBUSINESS ENTRYBUSINESS ENVIRONMENTBUSINESS REGISTRATIONBUSINESS REGISTRATIONSBUSINESS STRATEGYBUSINESSESCAPABILITIESCHAMBERS OF COMMERCECORPORATE TAXCORPORATE TAXESCORRELATION MATRIXCORRUPTIONCOUNTRY CHARACTERISTICSCOUNTRY DATACOUNTRY FIXED EFFECTSCOUNTRY-LEVEL INDICATORCREDIT RATINGCREDIT RATIONINGDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING ECONOMIESDOMESTIC ECONOMYE-MAILECONOMIC CENSUSESECONOMIC DEVELOPMENTECONOMIC GROWTHECONOMIC STRUCTURESECONOMIC SYSTEMSENTRY POINTEVOLUTIONARY ECONOMICSEXCHANGE RATEEXPLOITATIONEXTERNAL FINANCEFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL INFORMATIONFINANCIAL MARKETSFINANCIAL REPORTSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL STATEMENTSFINANCIAL SUPPORTFIRM GROWTHGDPGDP PER CAPITAGLOBALIZATIONGOVERNANCE INDICATORSGOVERNANCE MEASURESGOVERNMENT EFFECTIVENESSGOVERNMENT ENTITYGROWTH RATEGROWTH RATESINCOMEINCOME GROUPINCOME GROUPSINCOME LEVELINCOME LEVELSINFORMAL ECONOMYINSTITUTIONAL INVESTORINSTITUTIONAL QUALITYINTEREST RATESINVESTMENT CLIMATEJOB CREATIONLEGAL CONSTRAINTSLEGAL REGIMESLEGAL SYSTEMSLESS DEVELOPED COUNTRIESLIMITED LIABILITY COMPANIESLOCAL BUSINESSLOW INCOME COUNTRIESLOW-INCOME COUNTRIESLOWER INCOME COUNTRIESMACROECONOMIC VARIABLESMARKET ECONOMYMARKET ENTRYMETADATAMIDDLE INCOME COUNTRIESOILPHONEPOLITICAL STABILITYPRIVATE EQUITYPRIVATE SECTORPRIVATE SECTOR DEVELOPMENTRED TAPEREGISTRIESREGISTRYREGULATORY ENVIRONMENTREGULATORY QUALITYREGULATORY REGIMERESULTRESULTSRULE OF LAWSMALL BUSINESSSTANDARD UNIT OF MEASUREMENTSTARTUPSSTOCK PRICETAX RATETAXATIONTIME FRAMETRANSMISSIONTURNOVERUSESWEBWORLD DEVELOPMENT INDICATORSWorld Bank10.1596/1813-9450-5444