Institutions and Firm Formation: an Empirical Analysis of Portuguese Municipalities

Simão Arouca ()
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Simão Arouca: Nova School of Business and Economics. Office for Strategy and Studies (GEE), Portuguese Ministry of Economy and Employment.

No 50, GEE Papers from Gabinete de Estratégia e Estudos, Ministério da Economia

Abstract: The uneven spatial distribution of start-ups observed for Portugal from 2003 to 2009 suggests that local attributes, among which the quality of municipal institutions and their respective governance, impact the entrepreneurial process. Through the usage of a fixed effects negative binomial model, this thesis examines the role of municipalities in stimulating firm births, finding both the development of business-related infrastructures and the signals stemming from sound financial management to be the most relevant determinants. While some significance, although conditional, can be assigned to fast-paced licensing and EU structural funding, political right-left preferences appear to exert a negligible influence.

Keywords: Firm Formation; Municipalities; Institutions. (search for similar items in EconPapers)
JEL-codes: M13 R32 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2013-10, Revised 2013-10
New Economics Papers: this item is included in nep-bec, nep-ent, nep-sbm and nep-ure
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https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_50.pdf First version, 2013 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:mde:wpaper:0050

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