 Uncertainty and entrepreneurship in oil-rich developing countries: Does institution matter?Mahboubeh Jafari Resources Policy, 2024, vol. 99, issue C Abstract: This paper aims to investigate how institutional quality can influence the relationship between uncertainty and entrepreneurial activities in a sample of 20 oil-rich developing countries. The World Uncertainty Index (WUI) is employed as the indicator for uncertainty. To mitigate endogeneity issues, we employ a series of panel data models estimated using the Generalized Method of Moments (GMM). We find a higher level of WUI is negatively associated with the new business formation. Furthermore, our findings underscore the vital role of institutional quality in moderating the adverse effects of uncertainty on entrepreneurship. These results remain consistent across various measurements of institutional quality, uncertainty, and new business formation. Additionally, the estimation results confirm the existence of the oil curse hypothesis. The results of this research offer valuable insights for both policy development and management practices. Keywords: WUI; Entrepreneurship; Institutions; Oil-rich developing countries; GMM (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007529 DOI: 10.1016/j.resourpol.2024.105385 Access Statistics for this article Resources Policy is currently edited by R. G. Eggert More articles in Resources Policy from Elsevier |
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