Household wealth inequality, entrepreneurs' financial constraints, and the great recession: evidence from the Kauffman Firm Survey

被引：8

作者：

Braggion, Fabio ^{[1
,2
]}

Dwarkasing, Mintra ^{[3
,4
]}

Ongena, Steven ^{[5
,6
,7
]}

机构：

[1] Tilburg Univ, CentER, Tilburg, Netherlands

[2] Dept Finance, POB 90153, NL-5000 LE Tilburg, Netherlands

[3] Erasmus Univ, Rotterdam, Netherlands

[4] Erasmus Sch Econ, Dept Business Econ, Business Econ, Burgemeester Oudlaan 50,POB 1738, NL-3000 DR Rotterdam, Netherlands

[5] Univ Zurich, SFI, Zurich, Switzerland

[6] CEPR, Zurich, Switzerland

[7] Univ Zurich, Dept Banking & Finance, Plattenstr 32, CH-8032 Zurich, Switzerland

来源：

SMALL BUSINESS ECONOMICS | 2018年 / 50卷 / 03期

关键词：

Wealth inequality; Entrepreneurship; Financial constraints; UNITED-STATES; CREDIT; GROWTH;

D O I：

10.1007/s11187-017-9906-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We empirically test if household wealth inequality affects borrowing constraints of young entrepreneurs. We construct a measure of wealth inequality at the US county level based on the distribution of financial rents in 2004. We find that in more unequal areas, entrepreneurs are less likely to apply for a loan fearing that their applications will be turned down and they use more of their own funds to finance their ventures. In more unequal areas, the number of bank establishments per capita is lower, this effect being stronger during the 2007-2008 financial crisis.

引用

页码：533 / 543

页数：11

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