Company Births in Great Britain and the Institutional Environment

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Abstract
Dr.Johan Hudosn is a lecture in economic at the university of bath, england. his paper presetns the results of a time seris analysis of the number of new companies being registered with limited liability over the period 1952-84. A major for which has merged in this analysis is the instituttional enviornment within which small firms operate. particulary important have been changes in the tax structure such as the introduction of selective employoment tax and corporation tax. Profits are also an important explantory variable. however, the rapid increase in new registratins in the 1980s can probably be attributed to the worsening labour market which has forced some of the unemployeed into enterpreneruship. to an extent this is an encouraging development, where the supply side of the economy can be seen to be regenrting itself out of unused resources. However, there is some evidence that these firms are particularly likely to fail.

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