Harvard Business School, USA
IZA World of Labor role
Associate Professor of Business Administration, Entrepreneurial Management Unit, Harvard Business School, USA
Entrepreneurial finance, entrepreneurship, government and business, innovation, venture capital
PhD Management, Massachusetts Institute of Technology, 2007
“Entrepreneurship as experimentation.” Journal of Economic Perspectives 28:3 (2014): 25–48 (with W. R. Kerr and M. Rhodes-Kropf).
“Did bank distress stifle innovation during the Great Depression.” Journal of Financial Economics 114:2 (2014): 273–292 (with T. Nicholas).
“Investment cycles and startup innovation.” Journal of Financial Economics 110:2 (2013): 403–418 (with M. Rhodes-Kropf).
“A darker side to decentralized banks: Market power and credit rationing in SME lending.” Journal of Financial Economics 105:2 (2012): 353–366 (with R. Canales).
“Democratizing entry: Banking deregulations, financing constraints, and entrepreneurship.” Journal of Financial Economics 94:1 (2009): 124–149 (with W. R. Kerr).
Government should create an enabling environment—for entrepreneurs and investors—rather than try to pick “winners”Ramana Nanda, April 2016Entrepreneurship is essential to job creation and to productivity growth and therefore is an important matter for government policy. However, policymakers face a difficult challenge because successful growth for a few firms—which cannot easily be identified in advance—is accompanied by widespread failure for most other new firms. Predicting which firms will fail and which will succeed is nearly impossible. Instead of futilely trying to pick winners, governments can play a useful role in facilitating the growth of the most promising firms by setting the conditions for efficient trial-and-error experimentation across firms.MoreLess