Entrepreneurship, Economic Development and Institutional Environment: Evidence from OECD countries

Rafik Abdesselam, Jean Bonnet, Patricia Renou-Maissant and Mathilde Aubry
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Rafik Abdesselam: University of Lyon, Lumière Lyon 2, COACTIS, EA 4161, France
Patricia Renou-Maissant: University of Caen Normandy, CREM-CAEN, UMR CNRS 6211, France
Mathilde Aubry: Management School of Normandy, METIS Research Department, France

Economics Working Paper Archive (University of Rennes & University of Caen) from Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS

Abstract: The purpose of this article is to establish a typology of entrepreneurship for OECD countries over the 1999-2012 period. Our aim is to make a distinction between managerial and entrepreneurial economies, to identify groups of countries with similar economic and entrepreneurial activity variables and to determine the economic and institutional drivers of entrepreneurial activities in each group. We show that the level of development, sectoral specialization, and institutional variables related to entrepreneurship, functioning of the labor market and openness of the country are decisive to understand differences in entrepreneurship activity across countries. Results show that the pre-crisis period, from 1999 to 2008, is a period of growth favorable to entrepreneurship. The financial crisis involved a break in entrepreneurial dynamism with agricultural economies withstanding the financial crisis better. The 2010-2012 period of recovery is a period of a sharp slowdown in entrepreneurial activity, during which the countries that are less dependent on the financial sector proved to be the most resilient in terms of entrepreneurial activity. Nevertheless, it is the advanced economies of knowledge with developed financial markets, fewer institutional regulatory constraints and qualitative entrepreneurship that show the weaker unemployment rates. These findings have important implications for the implementation of public policy in order to promote entrepreneurial activity and reduce unemployment.

Keywords: Entrepreneurship; Data analysis methods; Entrepreneurial/Managerial economies (search for similar items in EconPapers)
JEL-codes: C38 L26 O1 (search for similar items in EconPapers)
Date: 2017-02
New Economics Papers: this item is included in nep-cse, nep-ent and nep-ino
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Citations: View citations in EconPapers (9)

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Related works:
Journal Article: Entrepreneurship, economic development, and institutional environment: evidence from OECD countries (2018)
Working Paper: Entrepreneurship, economic development,and institutional environment: evidence from OECD countries (2018)
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