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Patterns of Business Creation, Survival and Growth : Evidence from Africa

ACCESS TO FOREIGN MARKETS AGGREGATE EMPLOYMENT ALLOCATIVE EFFICIENCY BANK LOANS BARRIERS TO ENTRY BUSINESS COMMUNITY BUSINESS CYCLE BUSINESS ECONOMICS BUSINESS ENVIRONMENT BUSINESS INCORPORATION CANCER CAPITAL CONSTRAINTS CAPITAL MARKETS CENTRAL BANK COMMERCIAL CAPITAL COMPETITIVE ADVANTAGE COMPETITIVENESS CONTRACTING INDUSTRIES CONTROLLED PRICES CREATIVE DESTRUCTION DEBT DEREGULATION DEVALUATION DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DRIVERS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OUTLOOK EMPIRICAL ANALYSIS EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT DYNAMICS EMPLOYMENT GROWTH EMPLOYMENT INFORMATION EMPLOYMENT LEVELS EMPLOYMENT OPPORTUNITIES EMPLOYMENT PATTERNS EMPLOYMENT POLICY EMPLOYMENT SIZE ENTERPRISE DEVELOPMENT ENTREPRENEURIAL ACTIVITY ENTREPRENEURS ENTREPRENEURSHIP EXPANSION EXPANSIONS EXPENDITURES EXPORTS FINANCIAL CRISIS FIRM DYNAMICS FIRM ENTRY FIRM EXIT FIRM GROWTH FIRM SIZE FIRM SIZE DISTRIBUTION FIRM SURVEYS FIRM SURVIVAL FIRM TURNOVER FIRMS FOREIGN OWNERSHIP FOREIGN-OWNED FIRMS FORMAL ANALYSIS FUTURE RESEARCH GDP GDP PER CAPITA GNP GROSS DOMESTIC PRODUCT GROWTH POTENTIAL HIGH UNEMPLOYMENT HIGH UNEMPLOYMENT RATES HUMAN RESOURCES IMPERFECT COMPETITION IMPORT QUOTAS INCOME INDUSTRIAL ECONOMICS INFORMAL ECONOMY INFORMAL SECTOR JOB CHURNING JOB CREATION JOB CREATION RATE JOB DESTRUCTION JOB DESTRUCTION RATE JOB FLOWS JOB LOSSES JOB TURNOVER JOBS LABOR CONTRACTS LABOR MARKETS LABOR PRODUCTIVITY LABOR REGULATIONS MACROECONOMIC GROWTH MANUFACTURING ESTABLISHMENTS MANUFACTURING INDUSTRIES MARGINAL TAX RATES MICROENTERPRISES NET EMPLOYMENT NET JOB LOSSES OIL OPPORTUNITY COST PARTY POLICY MAKERS PREVIOUS SECTION PREVIOUS STUDIES PRICE CONTROLS PRIVATE MARKET PRIVATE SECTOR PRIVATE SECTOR ACTIVITY PRIVATE SECTOR FIRMS PRIVATE SECTOR JOBS PRODUCERS PRODUCT MARKET PRODUCTIVE FIRMS PRODUCTIVITY IMPROVEMENTS PROPORTIONAL HAZARD MODEL REAL GDP RECESSIONARY PERIOD REGRESSION ANALYSIS SEES SERVICE PROVIDERS SERVICE SECTOR SERVICE SECTORS SMALL BUSINESS SMALL ENTERPRISES SMALL FIRMS STATE-OWNED ENTERPRISES SURVIVAL ANALYSIS SURVIVAL RATES TECHNICAL ASSISTANCE TERMS OF TRADE TOTAL EMPLOYMENT TRADE LIBERALIZATION TRADE REFORMS UNEMPLOYMENT RATES WAGE BILL WAGES
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Africa | Africa | Africa
2012-03-19T18:05:09Z | 2012-03-19T18:05:09Z | 2011-10-01

The authors study firm dynamics using a novel database of all formally registered firms in Cote d'Ivoire from 1977 to 1997, which account for about 60 percent of gross domestic product. First, they examine entry and exit patterns and the role of new and exiting firms versus incumbents in job creation and destruction. They find that while the rate of job creation at new firms is quiet high -- at 8 percent on average -- the number of jobs added by new firms is small in absolute terms. Next, they examine survival rates and find that the probability of survival increases monotonically with firm size, but manufacturing and foreign-owned firms face higher likelihoods of exit compared with service oriented and domestically owned firms. They find that higher growth of gross domestic product increases the probability of firm survival, but this is a broad impact with no firm size disproportionately affected. In robustness checks, they find that after 1987 size is no longer a significant determinant of firm survival for new entrants, suggesting that the operating environment for firms changed. Finally, they find that trade and fiscal reform episodes raised the probability of firm exit and attenuated the survival disadvantages faced by smaller firms, but exchange rate revaluation and pro-private sector reforms did not significantly lower the likelihood of exit.

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