Entrepreneurship, economic development,and institutional environment: evidence from OECD countries

Rafik Abdesselam (), Jean Bonnet, Patricia Renou-Maissant () and Mathilde Aubry ()
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Rafik Abdesselam: COACTIS - COnception de l'ACTIon en Situation - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne, ERIC - Entrepôts, Représentation et Ingénierie des Connaissances - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon
Patricia Renou-Maissant: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique
Mathilde Aubry: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School

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Abstract: The purpose of this article is to establish a typology of entrepreneurship for OECD countries over the 1999–2012 period. Our aim is to draw a distinction between managerial and entrepreneurial economies, to identify groups of countries with similar economic and entrepreneurial activity variables, and to determine the economic and institutional drivers of entrepreneurial activities in each group. We show that the level of development, sectoral specialization, and institutional variables related to entrepreneurship, functioning of the labor market, and openness of the country are decisive to understand differences in entrepreneurship activity across countries. Results show that the pre-crisis period, from 1999 to 2008, is a period of growth favorable to entrepreneurship. The financial crisis involved a break in entrepreneurial dynamism, with agricultural economies withstanding the financial crisis better. The 2010–2012 period of recovery is a period of a sharp slowdown in entrepreneurial activity, during which the countries that are less dependent on the financial sector proved to be the most resilient in terms of entrepreneurial activity. Nevertheless, it is the advanced knowledge economies with developed financial markets, fewer institutional regulatory constraints, and greater scope for qualitative entrepreneurship that show lower unemployment rates. These findings have important implications for the implementation of public policy in order to promote entrepreneurial activity and reduce unemployment.

Keywords: entrepreneurship; L26; C38; C23; R11; new-firm formation; business cycle; Schumpeter effect; refugee effect; data analysis methods; panel data; Entrepreneurial/Managerial economies; Data analysis methods; E32 (search for similar items in EconPapers)
Date: 2018-12
Note: View the original document on HAL open archive server: https://hal.science/hal-02937303v1
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Citations: View citations in EconPapers (7)

Published in Journal of International Entrepreneurship, 2018, 16 (4), pp.504-546. ⟨10.1007/s10843-017-0214-3⟩

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Journal Article: Entrepreneurship, economic development, and institutional environment: evidence from OECD countries (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02937303

DOI: 10.1007/s10843-017-0214-3

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