{"type":"script","doc_desc":{"prod_date":"2024-04-09","version":"1","producers":[{"name":"Reproducibility WBG","abbr":"DIME","affiliation":"World Bank - Development Impact Department","role":"Verification and preparation of metadata"}]},"project_desc":{"output":[{"authors":"Marcio Cruz, Mariana Pereira-Lopez, Edgar Salgado","type":"Working Paper","description":"Policy Research Working Paper (PRWP) 10633","uri":"http:\/\/documents.worldbank.org\/curated\/en\/099045212072337941\/IDU06a36e64303a2a04fea08e4e0a6b8ac38a381","doi":"https:\/\/doi.org\/10.1596\/1813-9450-10633","title":"Disruptive Technologies and Finance : An Analysis of Digital Startups in Africa"}],"datasets":[{"name":"Education and Mismatch Indicators","note":"Source: International Labour Organization. \nLocated at data\/other\/ilo\/EMP_NORM_SEX_STE_EDU_NB_A.csv.  ","uri":"https:\/\/ilostat.ilo.org\/resources\/concepts-and-definitions\/description-education-and-mismatch-indicators\/#:~:text=The%20Education%20and%20Mismatch%20Indicators,and%20work%2Dbased%20learning%20indicators.","access_type":"Published with the package"},{"name":"Disruptive Technologies information","note":"Bloom, N., Hassan, T. A., Kalyani, A., Lerner, J., & Tahoun, A. (2021)\nThe table can be found in the Appendix 5 of the following link. The authors provide this table in the package located at: data\/Bloom\/data\/Bloom","uri":"https:\/\/web.archive.org\/web\/20220320123300id_\/https:\/www.nber.org\/system\/files\/working_papers\/w28999\/w28999.pdf","access_type":"Published with the package"},{"name":"Crunchbase","note":"Source: Crunchbase (2023)\nLocated at: data\/Crunchbase \nPlease see a list of all the files included in this folder in the README file. To fully replicate this package the user must get access to the Crunchbase 2023 database and add the listed files to the folder. ","access_type":"Restricted and not included in the package\n","uri":"https:\/\/www.crunchbase.com\/"},{"name":"Pitchbook","note":"Source: Pitchbook (2023)\nLocated at: data\/Pitchbook\nPlease see a list of all the files included in this folder in the README file. To fully replicate this package the user must get access to the Pitchbook 2023 database and add the listed files to the folder. ","access_type":"Restricted and not included in the package","uri":"https:\/\/pitchbook.com\/"},{"name":"Number of Firms Data","access_type":"Published with package","note":"Source: Castro, L., M. Cruz, F. Molders, A. Volk, and E. Salgado. 2023. \n(2023, unpublished manuscript).\nLocated at: data\/other\/predicted.dta"},{"name":"World Development Indicators","access_type":"Published with package","note":"Source: World Bank\nLocated at data\/other\/wdi.dta","uri":"https:\/\/databank.worldbank.org\/source\/world-development-indicators"}],"software":[{"name":"Stata","version":"17"},{"name":"R","version":"4.2"}],"scripts":[{"file_name":"RR_2024_AFR_96.zip","zip_package":"RR_2024_AFR_96.zip","title":"Reproducibility package (partial data and code) for Disruptive Technologies and Finance An Analysis of Digital Startups in Africa","date":"2024-04","description":"The code in this folder generates the tables and figures in the paper \"Disruptive Technologies and Finance: An Analysis of Digital Startups in Africa\" by Marcio Cruz, Mariana Pereira-Lopez, Edgar Salgado","dependencies":"All dependencies are stored in the ado folder.","instructions":"See README in the reproducibility package.","notes":"Computational reproducibility verified by Development Impact (DIME) Analytics team, World Bank."}],"title_statement":{"idno":"RR_2024_AFR_96","title":"Reproducibility package for Disruptive Technologies and Finance: An Analysis of Digital Startups in Africa","identifiers":[{"type":"DOI","identifier":"10.60572\/678t-tq65"}]},"contacts":[{"name":"Edgar Salgado","affiliation":"World Bank -  International Finance Corporation","email":"esalgadochavez@ifc.org"},{"name":"Reproducibility WBG","affiliation":"World Bank","email":"reproducibility@worldbank.org"}],"disclaimer":"The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development\/The World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.","license":[{"name":"Modified BSD3","uri":"https:\/\/opensource.org\/license\/bsd-3-clause\/"}],"language":[{"name":"English","code":"EN"}],"authoring_entity":[{"name":"Marcio Cruz","email":"marciocruz@ifc.org","affiliation":"International Finance Corporation"},{"name":"Mariana Pereira-Lopez","affiliation":"International Finance Corporation","email":"mpereiralopez@ifc.org"},{"name":"Edgar Salgado","affiliation":"International Finance Corporation","email":"esalgadochavez@ifc.org"}],"reproducibility_status":{"type":"Data: Some data is confidential and not included in the package (details provided in README); Code: All code files, from cleaning to analysis, are included in the package; Outputs: All outputs are generated by code included in the reproducibility package; Reproducibility verification: Not all of the data used to conduct this verification is included in the public package."},"production_date":"2024-04","abstract":"This paper investigates the relationship between disruptive technologies and access to finance for digital tech firms in Africa. Through textual analysis of data from Crunchbase\nand Pitchbook, the study explores how firms across different age cohorts incorporate disruptive technologies into their offerings in e-commerce, fintech, and information technology services. It uses this information to examine the association between this incorporation process and the likelihood and amount of funding received by these firms. The findings reveal three key insights for African digital tech startups. First, these startups are less likely to incorporate disruptive technologies into their offerings compared to their Latin American and advanced market counterparts, except for mobile payments. Second, the link between disruptiveness and funding is weaker in Africa. These results hold when excluding mobile payments and addressing potential endogeneity using instrumental variables. Third, firms that do incorporate disruptive technologies tend to secure funding earlier, with lower initial amounts, but are more likely to succeed in terms of exit or valuation growth.","geographic_units":[{"name":"Africa","code":"AFR","type":"Region"}],"keywords":[{"name":"digital technologies"},{"name":"disruption, financing"},{"name":"startups"},{"name":"entrepreneurship"}],"topics":[{"vocabulary":"Journal of Economic Literature (JEL)","uri":"https:\/\/www.aeaweb.org\/econlit\/jelCodes.php?view=jel","id":"D22","parent_id":"D2","name":"Firm Behavior: Empirical Analysis"},{"vocabulary":"Journal of Economic Literature (JEL)","uri":"https:\/\/www.aeaweb.org\/econlit\/jelCodes.php?view=jel","id":"O31","parent_id":"O3","name":"Innovation and Invention: Processes and Incentives"},{"vocabulary":"Journal of Economic Literature (JEL)","uri":"https:\/\/www.aeaweb.org\/econlit\/jelCodes.php?view=jel","id":"O33","parent_id":"O3","name":"Technological Change: Choices and Consequences \u2022 Diffusion Processes"}],"repository_uri":[{"name":"Reproducible Research Repository (World Bank)","uri":"https:\/\/reproducibility.worldbank.org"}],"technology_environment":"The code was reproduced on a computer with the following specifications:\n\u2013 OS: Windows 11 Enterprise\n\u2013 Processor: Intel(R) Core(TM) i5-1145G7 CPU @ 2.60GHz\n\u2013 Memory available: 15.7 GB\n\u2013 Software version: Stata version 17, R version 4.2","technology_requirements":"~15 minutes runtime","reproduction_instructions":"To effectively run the package a new user should do the following. Download the package and secure access to the required external data sources, specifically Crunchbase and PitchBook. Place these external files in the designated folder within the package, and then update the file path in dofiles\/Master.do to reflect their location. Additionally, specify the path for Rscript.exe if you plan to use R functionalities. Note that the package can operate without R installed, but it won't generate the map shown in Figure 1 without it.","data_statement":"This study employs a mix of public and licensed databases. The Crunchbase and Pitchbook databases are licensed, while all other sources are public and have been included in the reproducibility package. For further information, please refer to the README file within the reproducibility package.","acknowledgment_statement":"We thank Susan Lund, Denis Medvedev, Samuel Edet, Santiago Reyes, Florian Molders, Georges Houngbonon, Zineb Benkirane, Matthew Saal, Ami Dalal, Verena Wiedemann, Davide Strusani, Stephan Dreyhaupt, and participants of the workshop at IFC for their valuable comments. Lucien Ahoubange provided extraordinary research support. This paper was prepared as a background study for the IFC\u2019s \u201dDigital Opportunities in African Businesses\u201d project. This paper is a product of the IFC Economic Research Department, in partnership with the Government of Japan."},"tags":[{"tag":"DOI"}],"schematype":"script"}