Access to Finance and Job Growth : Firm-Level Evidence across Developing Countries

Ayyagari, Meghana ; Juarros, Pedro ; Martinez Peria, Maria Soledad ; Singh, Sandeep

World Bank, Washington, DC

关键词: PHYSICAL CAPITAL;    LINE OF CREDIT;    EMPLOYMENT;    CREDIT MARKETS;    CAPITAL MARKETS;   

DOI  :  10.1596/1813-9450-7604
RP-ID  :  WPS7604

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper investigates the effect ofaccess to finance on job growth in 50,000 firms across 70developing countries. Using the introduction of creditbureaus as an exogenous shock to the supply of credit, thepaper finds that increased access to finance results inhigher employment growth, especially among micro, small, andmedium enterprises. The results are robust to using firmfixed effects, industry measures of external financedependence, and propensity score matching in a complementarypanel data set of more than four million firms in 29developing countries. The findings have implications forpolicy interventions targeted to produce job growth inmicro, small, and medium enterprises.