EconStor >
Forschungsinstitut zur Zukunft der Arbeit (IZA), Bonn >
IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/67152
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorGöbel, Kristinen_US
dc.contributor.authorGrimm, Michaelen_US
dc.contributor.authorLay, Jannen_US
dc.date.accessioned2012-10-10en_US
dc.date.accessioned2012-12-07T16:51:17Z-
dc.date.available2012-12-07T16:51:17Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/67152-
dc.description.abstractWe investigate the returns to capital and capital accumulation using panel data of Peruvian micro enterprises (MEs). Marginal returns to capital are found to be very high at low levels of capital, but rapidly decreasing at higher levels. The dynamic analyses of capital accumulation in MEs suggest that credit constraints explain a major part of the variation in firm growth. We find a very large positive effect of household non-business wealth on capital stocks of MEs. We also show a sizable effect of risk on accumulation and pronounced interactions between wealth and risk. The presented evidence is consistent with poorly endowed entrepreneurs who operate in imperfect capital markets and a very risky environment.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion Paper Series, Forschungsinstitut zur Zukunft der Arbeit 6866en_US
dc.subject.jelD13en_US
dc.subject.jelD61en_US
dc.subject.jelO12en_US
dc.subject.ddc330en_US
dc.subject.keywordmicro and small enterprisesen_US
dc.subject.keywordcredit constraintsen_US
dc.subject.keywordrisken_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordfirm growthen_US
dc.subject.keywordPeruen_US
dc.subject.stwKleinstunternehmenen_US
dc.subject.stwKapitalertragen_US
dc.subject.stwInvestitionen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwUnternehmenswachstumen_US
dc.subject.stwPeruen_US
dc.titleConstrained firms, not subsistence activities: Evidence on capital returns and accumulation in Peruvian microenterprisesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn727145908en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

Files in This Item:
File Description SizeFormat
727145908.pdf448.87 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.