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Credit Constraints as a Barrier to the Entry and Post Entry Growth of Firms. Philippe Aghion, March 2007, Paper. "Advanced market economies are characterized by a continuous process of creative destruction. Market forces and technological developments play a major role in shaping this process, but institutional and policy settings also influence firms’ decision to enter, to expand if successful and to exit if competition becomes unbearable. In this paper, we focus on the effects of financial development on the entry of new firms and the expansion of successful new businesses..." Link