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Entrepreneurship in the EU: to wish and not to be

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Author Info
Isabel Grilo
Jesus Maria Irigoyen
Abstract

It is now widely acknowledged that the entrepreneurial capacity in an economy is a key determinant of economic growth and productivity improvements. This paper uses survey data from the 15 EU Member States and the US to establish the effect of demographic and other variables on latent and actual entrepreneurship. Latent entrepreneurship is measured by the probability of a declared preference for self-employment over employment. Other than demographic variables such as gender, age and education level, the set of explanatory variables used includes country specific effects, the perception by respondents of administrative complexities and of availability of financial support and a rough measure of risk tolerance. The most striking result is the lack of explanatory power of the perception of lack of available financial support in the latent entrepreneurship equation.

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Paper provided by Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy in its series Discussion Papers on Entrepreneurship, Growth and Public Policy with number 2005-01.

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Length: 31 pages
Date of creation: Aug 2005
Date of revision:
Handle: RePEc:esi:egpdis:2005-01

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Related research
Keywords: Entrepreneurship self-employment administrative complexities access to finance risk attitudes probit regression

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Find related papers by JEL classification:
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
R12 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Parker, Simon C, 1997. " The Effects of Risk on Self-Employment," Small Business Economics, Springer, vol. 9(6), pages 515-22, December. [Downloadable!] (restricted)
  2. Audretsch, David B, et al, 2002. "Impeded Industrial Restructuring: The Growth Penalty," Kyklos, Blackwell Publishing, vol. 55(1), pages 81-97.
    Other versions:
  3. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June. [Downloadable!] (restricted)
  4. Lin, Zhengxi & Picot, Garnett & Compton, Janice, 2000. " The Entry and Exit Dynamics of Self-Employment in Canada," Small Business Economics, Springer, vol. 15(2), pages 105-25, September. [Downloadable!] (restricted)
  5. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May. [Downloadable!] (restricted)
  6. Blanchflower, David G. & Oswald, Andrew & Stutzer, Alois, 2001. "Latent entrepreneurship across nations," European Economic Review, Elsevier, vol. 45(4-6), pages 680-691, May. [Downloadable!] (restricted)
  7. Holmes, Thomas J & Schmitz, James A, Jr, 1990. "A Theory of Entrepreneurship and Its Application to the Study of Business Transfers," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 265-94, April. [Downloadable!] (restricted)
  8. Blanchflower, David G & Meyer, Bruce D, 1994. " A Longitudinal Analysis of the Young Self-Employed in Australia and the United States," Small Business Economics, Springer, vol. 6(1), pages 1-19, February.
  9. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn. [Downloadable!] (restricted)
  10. Pia Arenius & Maria Minniti, 2005. "Perceptual Variables and Nascent Entrepreneurship," Small Business Economics, Springer, vol. 24(3), pages 233-247, 02. [Downloadable!] (restricted)
  11. David B. Audretsch & Michael Fritsch, 2002. "Growth Regimes over Time and Space," Regional Studies, Taylor and Francis Journals, vol. 36(2), pages 113-124, April. [Downloadable!] (restricted)
  12. Roy Thurik & Isabel Grilo, 2005. "Determinants of entrepreneurial engagement levels in Europe and the US," Discussion Papers on Entrepreneurship, Growth and Public Policy 2005-25, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
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  13. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August. [Downloadable!] (restricted)
  14. David Audretsch & Roy Thurik, 2004. "A Model of the Entrepreneurial Economy," Discussion Papers on Entrepreneurship, Growth and Public Policy 2004-12, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
  15. Jovanovic, Boyan, 1994. " Firm Formation with Heterogeneous Management and Labor Skills," Small Business Economics, Springer, vol. 6(3), pages 185-91, June.
  16. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, vol. 13(1), pages 27-55, August. [Downloadable!] (restricted)
  17. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January. [Downloadable!] (restricted)
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  18. Cressy, Robert, 1999. " The Evans and Jovanovic Equivalence Theorem and Credit Rationing: Another Look," Small Business Economics, Springer, vol. 12(4), pages 295-97, June. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Audretsch, David B & Meijaard, Joris & Stam, Erik, 2005. "Renascent Men or Entrepreneurship as a One-Night Stand: Entrepreneurial Intentions Subsequent to Firm Exit," CEPR Discussion Papers 5342, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Schutjens, V. & Stam, F.C., 2006. "Starting Anew: Entrepreneurial Intentions and Realizations Subsequent to Business Closure," Research Paper ERS-2006-015-ORG Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
    Other versions:
  3. Lorraine Uhlaner & Roy Thurik, 2005. "Post-Materialism Influencing Total Entrepreneurial Activity Across Nations," Discussion Papers on Entrepreneurship, Growth and Public Policy 2005-20, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
    Other versions:
  4. Isabel Grilo & Roy Thurik, 2005. "Entrepreneurial engagement levels in the European Union," Discussion Papers on Entrepreneurship, Growth and Public Policy 2005-29, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
    Other versions:
  5. Stam, F.C. & Audretsch, D.B. & Meijaard, J., 2006. "Renascent Entrepreneurship," Research Paper ERS-2006-017-ORG Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
    Other versions:
  6. Erik Stam & David Audretsch & Joris Meijaard, 2006. "Renascent Entrepreneurship - Entrepreneurial Preferences Subsequent to Firm Exit," Discussion Papers on Entrepreneurship, Growth and Public Policy 2006-06, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
  7. Niels Noorderhaven & André van Stel & Roy Thurik & Sander Wennekers, 2005. "Uncertainty Avoidance and the Rate of Business Ownership across 22 OECD Countries, 1976-2000," Discussion Papers on Entrepreneurship, Growth and Public Policy 2005-15, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
    Other versions:
  8. Roy Thurik & Isabel Grilo, 2005. "Latent and actual entrepreneurship in Europe and the US: some recent developments," Discussion Papers on Entrepreneurship, Growth and Public Policy 2005-24, Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy. [Downloadable!]
    Other versions:
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