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De Jure Determinants of New Firm Formation: How the Pillars of Constitutions Influence Entrepreneurship

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  • E. Carbonara
  • E. Santarelli
Abstract
This paper provides empirical evidence supporting the view that constitutions may influence the organization of economic activities. Dealing with the issue of the institutional determinants of entrepreneurship, it shows that some of the provisions contained in national constitutions are positively and significantly associated to a standard measure of entrepreneurial dynamics, namely the rate of new business density. Using a novel dataset containing the characteristics of the constitutions enacted in the world and a sample of 115 countries, the paper finds that provisions about the right to conduct/establish a business, the right to strike, consumer protection, protection of trademarks, and education promote higher rates of new firm formation.

Suggested Citation

  • E. Carbonara & E. Santarelli, 2015. "De Jure Determinants of New Firm Formation: How the Pillars of Constitutions Influence Entrepreneurship," Working Papers wp991, Dipartimento Scienze Economiche, Universita' di Bologna.
    • Handle: RePEc:bol:bodewp:wp991
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    Cited by:

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    11. David B. Audretsch & Albert N. Link, 2019. "Embracing an entrepreneurial ecosystem: an analysis of the governance of research joint ventures," Small Business Economics, Springer, vol. 52(2), pages 429-436, February.
    12. Maribel Guerrero & Radzivon Marozau, 2023. "Assessing the influence of institutions on students’ entrepreneurial dynamics: evidence from European post-socialist and market-oriented economies," Small Business Economics, Springer, vol. 60(2), pages 503-519, February.
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    14. Vuong Quan Hoang & La Viet Phuong & Vuong Thu Trang & Hoang Phuong Hanh & Ho Manh Toan & Ho Manh Tung & Nguyen Hong Kong To, 2020. "Multi-faceted insights of entrepreneurship facing a fast-growing economy: A literature review," Open Economics, De Gruyter, vol. 3(1), pages 25-41, January.
    15. Bogatyreva, K. & Shirokova, G. & Osiyevskyy, O., 2016. "Intention-behavior translation in student entrepreneurship: An institutional perspective," Working Papers 6455, Graduate School of Management, St. Petersburg State University.
    16. Emanuela Carbonara & Giuseppina Gianfreda & Enrico Santarelli & Giovanna Vallanti, 2021. "The impact of intellectual property rights on labor productivity: do constitutions matter? [Research and development in the growth process]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(4), pages 884-904.
    17. Enrico Santarelli & Hien Thu Tran, 2018. "The interaction of institutional quality and human capital in shaping the dynamics of capital structure in Vietnam," WIDER Working Paper Series 66, World Institute for Development Economic Research (UNU-WIDER).
    18. Nguyen, Phuc Canh & Nguyen, Bach & Thanh, Su Dinh, 2022. "The importance of export diversification for national entrepreneurship density," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 114-129.
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    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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