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221013 ||| eng |
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|a Gatti, Roberta
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| 245 |
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|a Informality Among Formal Firms
|h Elektronische Ressource
|b Firm-Level, Cross-Country Evidence On Tax Compliance And Access To Credit
|c Gatti, Roberta
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| 260 |
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|a Washington, D.C
|b The World Bank
|c 2008
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| 300 |
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|a 37 p.
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| 653 |
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|a Macroeconomics and Economic Growth
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| 653 |
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|a Banks
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| 653 |
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|a Financial Market
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| 653 |
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|a Access To External Finance
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| 653 |
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|a Access To Credit
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| 653 |
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|a Access to Finance
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| 653 |
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|a Bankruptcy and Resolution of Financial Distress
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| 653 |
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|a Balance Sheets
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| 653 |
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|a External Finance
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| 653 |
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|a Debt Markets
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| 653 |
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|a Financial Institutions
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| 653 |
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|a Finance and Financial Sector Development
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| 653 |
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|a Social Security
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| 653 |
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|a Exclusion
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| 653 |
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|a Economic Theory and Research
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| 653 |
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|a Banks and Banking Reform
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| 653 |
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|a International Bank
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| 700 |
1 |
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|a Honorati, Maddalena
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| 700 |
1 |
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|a Gatti, Roberta
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b WOBA
|a World Bank E-Library Archive
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| 856 |
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|u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4476
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a The authors use firm-level, cross-county data from Investment Climate surveys in 49 developing countries to investigate an important channel through which informality can affect productivity: access to credit and external finance. Informality is measured as self-reported lack of tax compliance in a sample of registered firms that also answered questions on a large set of other characteristics. The authors find that more tax compliance is significantly associated with more access to credit both in OLS and in country fixed effects estimates. In particular, the link between credit and formality is stronger in high-formality countries. This suggests that firms' balance sheets are relatively more informative for financial institutions in environments where signal extraction is a less noisy process. The authors' results are robust to the inclusion of a wide array of correlates and to two-stage estimation
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