Oil and entrepreneurship

Mahdi Majbouri ()

Energy Policy, 2016, vol. 94, issue C, 10-15

Abstract: Economic theory predicts that rents produced from natural resources, especially oil and gas, can increase opportunities for entrepreneurship, but they may also reduce engagement in entrepreneurial activities as they change incentives towards rent-seeking. Using Global Entrepreneurship Monitor (GEM) annual surveys, this study provides empirical evidence that more per capita profit from oil and gas reduces entrepreneurship only in corrupt environments. The more the corruption is, the larger is the impact. The results have important implications for policy makers, especially in resource rich developing countries.

Keywords: Natural resource rents; Oil and gas; Entrepreneurship (search for similar items in EconPapers)
JEL-codes: L26 O13 Q35 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:94:y:2016:i:c:p:10-15

DOI: 10.1016/j.enpol.2016.03.027

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