Entrepreneurship and the Business Cycle
AbstractWe study the cyclical pattern of entrepreneurial activity. Results across 22 OECD countries for the period 1972-2007 show that entrepreneurial activity is a leading indicator of the business cycle in a Granger-causality sense. This contradicts existing theoretical hypotheses which predict that entrepreneurship is pro-cyclical or not cyclical. We discuss possible causes and implications of this finding.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 09-032/3.
Date of creation: 00 0000
Date of revision: 30 Sep 2009
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Entrepreneurship; business cycle;
Other versions of this item:
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-08-16 (All new papers)
- NEP-BEC-2009-08-16 (Business Economics)
- NEP-ENT-2009-08-16 (Entrepreneurship)
- NEP-MAC-2009-08-16 (Macroeconomics)
- NEP-SBM-2009-08-16 (Small Business Management)
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