Entrepreneurial activity and economic development: The shape of the relationship

Alexander Larin () and Elena Tarunina ()
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Alexander Larin: Higher School of Economics (Nizhnii Novgorod) Russia
Elena Tarunina: Higher School of Economics (Nizhnii Novgorod), Russia

Applied Econometrics, 2015, vol. 37, issue 1, 3-26

Abstract: The paper investigates how entrepreneurial activity depends on economic development, measured by GDP per capita. The empirical analysis is based on GEM yearly data on 65 countries for the period from 2001 to 2011. We use nonparametric approach to show that variation in entrepreneurial activity across countries can be explained by U-shaped relationship, the hypothesis of L-shaped relationship is rejected. At the same time the analysis does not reveal any significant relationship between the variables in time within one particular country.

Keywords: entrepreneurial activity; economic development; partially linear regression; nonparametric estimation; panel data; GEM (search for similar items in EconPapers)
JEL-codes: C14 C20 L26 M13 O11 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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