Cycle économique et comportement entrepreneurial sur données régionales françaises

Mathilde Aubry, Jean Bonnet and Patricia Renou-Maissant

Revue d'économie régionale et urbaine, 2014, vol. novembre, issue 4, 643-675

Abstract: In this paper, we study the links between new-firm startups, gross domestic product (GDP) and unemployment rate in France using a quarterly data basis over the 1993-2011 period. Interactions are analyzed, in the short and long run, in two main dimensions: the regional and the national dimensions. Fluctuations in GDP are an early indicator of the new-firm startups at the national level but this effect disappears at the regional level. Unemployment rates and new-firm startups are closely linked in the short-run as well as in the long-run and show evidence of the presence of the REFUGEE?s effect and the SCHUMPETER?s effect. In most of the regions, the REFUGEE?s effect seems to be dominant: the increase of the unemployment rate leads to an increase in the entrepreneurial activity. Thus, in France new-firm startups are mainly driven by necessity motives.

Keywords: Business cycle; “entrepreneurship capital”; new firm formation; SCHUMPETER effect (search for similar items in EconPapers)
Date: 2014
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