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Entrepreneurship and Economic Development. Leora F. Klapper Senior Economist DECRG-FPD l klapper@w o rldbank.org 1-202-473-8738. Why a database on entrepreneurship?. To answer: What drives firm creation and entrepreneurship?

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slide1

Entrepreneurship and

Economic Development

Leora F. Klapper

Senior Economist DECRG-FPD

lklapper@worldbank.org

1-202-473-8738

slide2

Why a database on entrepreneurship?

  • To answer:
  • What drives firm creation and entrepreneurship?
  • What policies are needed to create and support the emergence of new entrepreneurs?
    • Use for Monitoring and Evaluation
  • How can greater formal sector participation / corporate registration be encouraged?
  • What are the benefits for firms that join the formal economic sector?
slide3

Using data from the registrar of companies

  • This improves upon previously used datasets in that it includes a large number of private firms and all industrial sectors, including a large fraction of new & small companies.
  • Challenges in comparing data across countries include differences in registration and annual filing requirements; the identification of exited firms; re-registrations; and decentralized registry systems.
  • This data can be used to benchmark changes in the composition of the private sector over time and study the impact of regulatory, political, and macroeconomic institutional changes on entrepreneurship and growth.
slide4

Methodology

New Economic Units

Informal Sector

Formal Sector

Micro Businesses

Self Employment

Civil Law

Common Law

Sole Proprietorship

Companies

Companies

Partnerships

Sole Proprietorship

New Businesses

slide5

Survey Structure

  • Panel A: Total and new registrations recorded:
    • - Total firms
    • - New firms
    • - Year-end 2000-05
  • Panel B: Number of corporations, by sector and size:
  • - By sector: Manufacturing, Services, Financial, Wholesale & Retail Trade
  • Panel C: The Role of Corporate Registries:
slide6

Panel C: The Role of Corporate Registries

  • What information are firms required to register?
  • - Is registration compulsory?
  • - Incorporations/ closings/ re-registrations
  • - Is annual financial information compulsory?
  • How do firms register?
  • What information does the Registrar collect?
  • - Corporate registrations, Internet domain names, Patents
  • How is Registrar data distributed?
  • - Accessibility by creditors, suppliers, lenders and private vendors
  • (i.e. D&B)
  • What is the relationship with new and total registrations?
  • What is the relationship with the business environment?
slide8

Relationship with the Business Environment

  • Scatter-plots / Bivariate tests
  • Multivariate tests
slide9

Conclusions

  • Corporate registry data can be an important tool for
  • researchers and policymakers to study the size and
  • growth of the private sector.
  • Benchmarks can be constructed to study the impact of
  • reforms: Entry rates can be used to measure the
  • success of private sector development policies and
  • regulatory and legal reforms.
  • The process of gathering the data becomes a valuable
  • research tool to diagnose problems related to
  • entrepreneurship.
  • This data can be used to empirically test the many
  • factors that affect business creation and to support the
  • findings in other studies (e.g. Doing Business).
slide10

New sectoral requirements/ re-registrations

20000

.

18000

16000

14000

12000

10000

8000

6000

4000

2000

1998

1995

1996

1997

1999

2000

2002

2003

Reforms that Affect Business Statistics: The Algerian Case

slide11

19

5

20

10

29

slide12

Panel A: Summary statistics, by region

Panel A: Summary statistics, by region

Average entry rate 2003-2005

slide13

49

Average Business Density 2003-2005

slide14

Panel B: Summary statistics by sector

Panel B: Summary statistics by sector

slide15

Panel B: Summary statistics by sector

Panel B: Summary statistics by sector

slide20

Panel C: What is the relationship with new and total registrations?

slide21

Panel C: What is the relationship with the business environment?

slide22

EBR Implementation

EBR implementation

Active Modernization plan

Inactive Modernization plan

Panel C: EBR Country Cases

Evolution of Firm registration 1993-2005 (Guatemala, Sri Lanka and Jordan)

Stages of the EBR implementation / Evolution of firm registration (Guatemala)

scatter plots

Entry rate (percent)

Entry rate (percent)

20

20

15

15

10

10

5

5

0

0

0

20

40

60

-2

-1

0

1

2

Governance (Kraay indicators average)

Cost to start a business

2

b=-.087, p=0.00, R

=0.17, obs=63

b=1.57, p=0.00, R2 =0.23, obs=81

Scatter Plots

GDP per capita

GDP per capita

Cost of starting a

business

Governance