Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/67152 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorGöbel, Kristinen
dc.contributor.authorGrimm, Michaelen
dc.contributor.authorLay, Jannen
dc.date.accessioned2012-10-10-
dc.date.accessioned2012-12-07T16:51:17Z-
dc.date.available2012-12-07T16:51:17Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x6866en
dc.subject.jelD13en
dc.subject.jelD61en
dc.subject.jelO12en
dc.subject.ddc330en
dc.subject.keywordmicro and small enterprisesen
dc.subject.keywordcredit constraintsen
dc.subject.keywordrisken
dc.subject.keywordrisk aversionen
dc.subject.keywordfirm growthen
dc.subject.keywordPeruen
dc.subject.stwKleinstunternehmenen
dc.subject.stwKapitalertragen
dc.subject.stwInvestitionen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwRisikoaversionen
dc.subject.stwUnternehmenswachstumen
dc.subject.stwPeruen
dc.titleConstrained firms, not subsistence activities: Evidence on capital returns and accumulation in Peruvian microenterprises-
dc.typeWorking Paperen
dc.identifier.ppn727145908en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
448.87 kB





Publikationen in EconStor sind urheberrechtlich geschützt.