Judicial Ideology and Business Dynamics
Using staggered changes in U.S. circuit court ideology, we examine the effect of judicial ideology on U.S. business dynamics. We find evidence that shifts toward more liberal courts, which are commonly viewed as less pro-business, are followed by immediate increases in business turnover that persist for decades. Changes toward more liberal courts are not related to preexisting levels or trends in economic conditions but are followed by immediate increases in business entry and job creation. In the intermediate term business exits and job destruction increase. This results in more younger firms, especially in industries that benefit most from conservative courts.
© This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/
|Work Title||Judicial Ideology and Business Dynamics|
|License||CC BY-NC-ND 4.0 (Attribution-NonCommercial-NoDerivatives)|
|Publisher Identifier (DOI)||
|Deposited||April 04, 2022|
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