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The Effect of Systemic Banking Crises on Entrepreneurship

In: New Challenges in Entrepreneurship and Finance

Author

Listed:
  • Jordi Paniagua

    (Catholic University of Valencia “San Vicente Mártir” (UCV))

  • Juan Sapena

    (Catholic University of Valencia “San Vicente Mártir” (UCV))

Abstract

Economic crises have mixed effects on entrepreneurship. Through demand shocks, credit constraints, and unemployment, systemic banking crises affect the rate of start-up business creation, although the extent of their impact varies. Consequently, previous studies on the effect of crises on Entrepreneurship are inconclusive. The surge of global demand coupled with low credit availability reduces the prospects for new businesses. On the other hand, job losses caused by an economic crisis might lead many entrepreneurs to undertake new projects. These inconsistent conclusions highlight the need for more studies that explore the effect of systemic banking crises on entrepreneurship. This article presents analysis of a global panel database consisting of data on new business activity and density for 106 countries during 2004–2012. A range of regression techniques yielded robust results that show that systemic banking crises have a consistently negative impact on entrepreneurship.

Suggested Citation

  • Jordi Paniagua & Juan Sapena, 2015. "The Effect of Systemic Banking Crises on Entrepreneurship," Springer Books, in: Marta Peris-Ortiz & Jean-Michel Sahut (ed.), New Challenges in Entrepreneurship and Finance, edition 127, chapter 0, pages 195-207, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-08888-4_14
    DOI: 10.1007/978-3-319-08888-4_14
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    Cited by:

    1. A. Arrighetti & F. Landini & L. Caricati & N. Monacelli, 2015. "Entrepreneurial intention in the time of crisis: a field study," Economics Department Working Papers 2015-EP05, Department of Economics, Parma University (Italy).
    2. Valentina Diana Rusu & Angela Roman, 2017. "Entrepreneurial Activity in the EU: An Empirical Evaluation of Its Determinants," Sustainability, MDPI, vol. 9(10), pages 1-16, September.
    3. Federico Vegetti & Dragoş Adăscăliţei, 2017. "The impact of the economic crisis on latent and early entrepreneurship in Europe," International Entrepreneurship and Management Journal, Springer, vol. 13(4), pages 1289-1314, December.

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