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Business Environment and Firm Entry
"Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally "high entry" industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R & D or industries that need more external finance"--National Bureau of Economic Research web site.
The Etruscans Outside Etruria
During the last millennium B.C., before the coming of the Romans, the Etruscans built a thriving civilization in the western Mediterranean basin, which was rich in natural resources. From the eighth century B.C., Etruria became a destination on the Italian peninsula for refined works by artisans of the Hellenic regions, the Near East, and central Europe, and for masters from these regions, who emigrated and began to work for the local clientele. These artisans would contribute significantly to the development of an art that was recognizably Etruscan. The influence of Etruscan civilization on other cultures has received less attention from archaeologists than has the effect of the Eastern and...
