Ramana Nanda

Harvard Business School
Rock Center 317
Soldiers Field
Boston, MA 02163
Tel: 617/496-2783

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: PR
NBER Affiliation: Research Associate
Institutional Affiliation: Harvard University

NBER Working Papers and Publications

July 2020Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn
with Josh Lerner: w27492

Published: Josh Lerner & Ramana Nanda, 2020. "Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn," Journal of Economic Perspectives, vol 34(3), pages 237-261. citation courtesy of

June 2020The Evolution of CEO Compensation in Venture Capital Backed Startups
with Michael Ewens, Christopher T. Stanton: w27296
May 2020Financial Distancing: How Venture Capital Follows the Economy Down and Curtails Innovation
with Sabrina T. Howell, Josh Lerner, Richard R. Townsend: w27150
November 2019Networking Frictions in Venture Capital, and the Gender Gap in Entrepreneurship
with Sabrina T. Howell: w26449
August 2018The Persistent Effect of Initial Success: Evidence from Venture Capital
with Sampsa Samila, Olav Sorenson: w24887


April 2018Cost of Experimentation and the Evolution of Venture Capital
with Michael Ewens, Matthew Rhodes-Kropf: w24523

Published: Michael Ewens & Ramana Nanda & Matthew Rhodes-Kropf, 2018. "Cost of experimentation and the evolution of venture capital," Journal of Financial Economics, . citation courtesy of

Coordination Frictions in Venture Capital Syndicates
with Matthew Rhodes-Kropf: w24517
July 2016Can Paying Firms Quicker Affect Aggregate Employment?
with Jean-Noel Barrot: w22420
October 2015Financing Entrepreneurial Experimentation
with Matthew Rhodes-Kropf
in Innovation Policy and the Economy, Volume 16, Josh Lerner and Scott Stern, editors
August 2015House Prices, Home Equity and Entrepreneurship: Evidence from U.S. Census Micro Data
with Sari Kerr, William R. Kerr: w21458
June 2015Financing Entrepreneurial Experimentation
with Matthew Rhodes-Kropf: w21278
November 2014Financing Innovation
with William R. Kerr: w20676

Published: Ramana Nanda & William R. Kerr, 2015. "Financing Innovation," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 445-462, December. citation courtesy of

October 2014Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
with Thais Lærkholm Jensen, Søren Leth-Petersen: w20583
August 2014Did Bank Distress Stifle Innovation During the Great Depression?
with Tom Nicholas: w20392

Published: Nanda, Ramana & Nicholas, Tom, 2014. "Did bank distress stifle innovation during the Great Depression?," Journal of Financial Economics, Elsevier, vol. 114(2), pages 273-292. citation courtesy of

July 2014Entrepreneurship as Experimentation
with William R. Kerr, Matthew Rhodes-Kropf: w20358

Published: William R. Kerr & Ramana Nanda & Matthew Rhodes-Kropf, 2014. "Entrepreneurship as Experimentation," Journal of Economic Perspectives, American Economic Association, vol. 28(3), pages 25-48, Summer. citation courtesy of

Innovation and Entrepreneurship in Renewable Energy
with Ken Younge, Lee Fleming
in The Changing Frontier: Rethinking Science and Innovation Policy, Adam B. Jaffe and Benjamin F. Jones, editors
August 2013Innovation and the Financial Guillotine
with Matthew Rhodes-Kropf: w19379
November 2009Financing Constraints and Entrepreneurship
with William Kerr: w15498

Published: Kerr, William R., and Ramana Nanda. "Financing Constraints and Entrepreneurship." In Handbook of Research on Innovation and Entrepreneurship, edited by David Audretsch, Oliver Falck, and Stephan Heblich, 88–103. Cheltenham, U.K.: Edward Elgar Publishing, 2011. (NBER WP 15498, HBS WP 10-013.)

Banking Deregulations, Financing Constraints, and Firm Entry Size
with William Kerr: w15499


  • Kerr, William R. & Nanda, Ramana, 2009. "Democratizing entry: Banking deregulations, financing constraints, and entrepreneurship," Journal of Financial Economics, Elsevier, vol. 94(1), pages 124-149, October.
  • William R. Kerr & Ramana Nanda, 2010. "Banking Deregulations, Financing Constraints, and Firm Entry Size," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 582-593, 04-05. citation courtesy of

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