Plausibly Exogenous - Access to Finance (09/07/2021)
LHS Variable
Fund size
RHS Variable
Intermediary financing constraints
Source of Exogenous Variation
Passage of the Volcker Rule, which restricted banks’ ability to invest in venture capital funds as limited partners (LPs), which disproportionately impacted regions of the U.S. historically lacking in VC financing
- Chen and Ewens (2021), “Venture Capitalists’ Access to Finance and Its Impact on Startups”