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The Great Recession’s effect on entrepreneurship

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  • Scott Shane

Abstract

Though the recent recession was the worst downturn since the Great Depression, some observers argue that one silver lining is an upswing in entrepreneurship. Recessions, they claim, provide laid-off workers with the motivation to start their own businesses, and a recent study suggests that in 2009 the number people becoming self employed spiked to its highest level in more than a decade. Unfortunately, a careful look at multiple sources of data shows that the Great Recession was actually a time of considerable decline in entrepreneurial activity in the United States.>

Suggested Citation

  • Scott Shane, 2011. "The Great Recession’s effect on entrepreneurship," Economic Commentary, Federal Reserve Bank of Cleveland, issue Mar.
    • Handle: RePEc:fip:fedcec:y:2011:i:mar24:n:2011-4
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    Cited by:

    1. Ivan Arnautovic & Veljko Samardzic & Goran Vitomir & Tatjana Davidov & Sanda Nastic & Slobodan Popovic, 2021. "Monitoring Of Monetary-Credit Policy As Part Of The Decision-Making Of The Top Management Of The Companies Established By Local Self-Government Units On The Example Of The Republic Of Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 22-28, August.
    2. Yu, Li & Orazem, Peter F. & Jolly, Robert W., 2014. "Entrepreneurship over the business cycle," Economics Letters, Elsevier, vol. 122(2), pages 105-110.
    3. Halil D. Kaya, 2021. "The 2008-2009 Global Crisis And Entrepreneurial Activity," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 12-21, August.
    4. Michael W-P Fortunato & Theodore Alter, 2015. "Community entrepreneurship development: an introduction," Community Development, Taylor & Francis Journals, vol. 46(5), pages 444-455, December.
    5. Terjesen, Siri A. & João Guedes, Maria & Patel, Pankaj C., 2016. "Founded in adversity: Operations-based survival strategies of ventures founded during a recession," International Journal of Production Economics, Elsevier, vol. 173(C), pages 161-169.
    6. Willis, David Brian & Hughes, David W. & Boys, Kathryn A., 2018. "An Unconditional Quantile Analysis of the Determinants of Self-Employed Income across Regional Economies: An Initial Assessment," 2018 Annual Meeting, August 5-7, Washington, D.C. 274498, Agricultural and Applied Economics Association.
    7. Alfonso Rodríguez-Ramírez & Álvaro Zapata-Domínguez, 2020. "La crisis como escenario para surgimiento del emprendimiento social: caso de la Universidad del Valle," Revista Sociedad y Economía, Universidad del Valle, CIDSE, issue 41, pages 121-142, July.
    8. Nabil Abou Lebdi & Katrin Hussinger, 2016. "Startup Innovation during the Past Economic Crisis," DEM Discussion Paper Series 16-27, Department of Economics at the University of Luxembourg.

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