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Start-up financing in the age of Globalisation

Korosteleva, J.; Mickiewicz, T.; (2010) Start-up financing in the age of Globalisation. (Economics Working Papers 96). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK. Green open access

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Abstract

We investigate the determinants of start-up financing in 54 countries, using the Global Entrepreneurship Monitor (GEM) surveys for years 2001-2006. We find that financial liberalisation increases the total financial size of the individual start-up entrepreneurial project both via the increased use of external and of own funds. In addition, the volume of start-up finance responds positively to international capital inflows as represented by loans from non-resident banks and remittances, and negatively to the volume of offshore deposits. The positive impact of remittances on total volume of start-up financing is via own finance of the entrepreneur.

Type: Working / discussion paper
Title: Start-up financing in the age of Globalisation
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.ssees.ucl.ac.uk/wp96sum.htm
Language: English
Additional information: This working paper is a revised version 'Start-up financing: a comparative perspective' of available at http://discovery.ucl.ac.uk/17443/
Keywords: Start-up finance, entrepreneurial traits, informal finance, financial freedom, capital flows, Global Entrepreneurship Monitor, GEM
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/1382005

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