Growth and Capital Flows with Risky Entrepreneurship

Growth and Capital Flows with Risky Entrepreneurship
This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs to rely on self-financing, so that when business READ MORE...

Publication date: February 2010
ISBN 9781451962802
$18.00

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