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Latent and actual entrepreneurship in Europe and the US: some recent developments

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Author Info
Roy Thurik ()
Isabel Grilo ()

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Abstract

This paper uses 2004 survey data from the 15 old EU member states and the US to explain country differences in latent and actual entrepreneurship. Other than demographic variables such as gender, age and education, the set of covariates includes the perception by respondents of administrative complexities, of availability of financial support and of risk tolerance as well as country-specific effects. A comparison is made with results using a similar survey in 2000. While a majority of the surveyed population identifies lack of financial support as an obstacle to starting a new business, the role of this variable in both latent and actual entrepreneurship appears to be even more counterintuitive in 2004 than in 2000: it has no impact on actual entrepreneurship and is positively related to latent entrepreneurship. Administrative complexities, also perceived as an obstacle by a large majority of the population, have the expected negative impact both for latent and actual entrepreneurship in both years. Country-specific effects are important both for latent and actual entrepreneurship and the comparison of 2000 and 2004 results suggests that, once all other factors are controlled for, an improvement in actual entrepreneurship in the EU relative to the US has taken place in the last four years. However, in terms of unweighted averages actual entrepreneurship remained about the same. Latent entrepreneurship dropped while this drop seems to have occurred evenly in the US and the EU member states.

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Paper provided by Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group in its series Papers on Entrepreneurship, Growth and Public Policy with number 2005-24.

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Length: 30 pages
Date of creation: Aug 2005
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Handle: RePEc:esi:egpdis:2005-24

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Related research
Keywords: entrepreneurship; latent entrepreneurship; nascent entrepreneurship; determinants; Europe;

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Find related papers by JEL classification:
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
H10 - Public Economics - - Structure and Scope of Government - - - General
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)

This paper has been announced in the following NEP Reports:

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.:
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  2. Sjoerd Beugelsdijk & Niels Noorderhaven, 2005. "Personality Characteristics of Self-Employed; An Empirical Study," Small Business Economics, Springer, vol. 24(2), pages 159-167, 03. [Downloadable!] (restricted)
  3. Andre van Stel, . "COMPENDIA: Harmonizing business ownership data across countries and over time," Papers on Entrepreneurship, Growth and Public Policy 2005-05, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
    Other versions:
  4. David G. Blanchflower, 2004. "Self-Employment: More may not be better," NBER Working Papers 10286, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. 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)
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  8. Ingrid Verheul & Andre van Stel & Roy Thurik, 2004. "Explaining female and male entrepreneurship across 29 countries," Papers on Entrepreneurship, Growth and Public Policy 2004-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
    Other versions:
  9. Rees, Hedley & Shah, Anup, 1986. "An Empirical Analysis of Self-employment in the U.K," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 95-108, January. [Downloadable!] (restricted)
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  11. Kirzner, Israel M, 1999. " Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer, vol. 11(1-2), pages 5-17. [Downloadable!] (restricted)
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  13. J. Wagner, 2003. "Testing Lazear's jack-of-all-trades view of entrepreneurship with German micro data," Applied Economics Letters, Taylor and Francis Journals, vol. 10(11), pages 687-689, September. [Downloadable!] (restricted)
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  14. Isabel Grilo & Jesus Maria Irigoyen, 2005. "Entrepreneurship in the EU: to wish and not to be," Papers on Entrepreneurship, Growth and Public Policy 2005-01, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
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  20. Audretsch, David B & Carree, Martin A & Thurik, A R Roy & van Stel, A J, 2005. "Does Self-Employment Reduce Unemployment?," CEPR Discussion Papers 5057, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  21. André van Stel & Viktor Stunnenberg, 2004. "Linking Business Ownership and Perceived Administrative Complexity: An Empirical Analysis of 18 OECD Countries," Scales Research Reports N200409, EIM Business and Policy Research. [Downloadable!]
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  22. Andre van Stel & David Storey & Roy Thurik & Sander Wennekers, 2005. "From nascent to actual entrepreneurship: the effect of entry barriers," Papers on Entrepreneurship, Growth and Public Policy 2005-35, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
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  23. Roy Thurik & Lorraine Uhlaner, 2004. "Post-Materialism: A Cultural Factor influencing Total Entrepreneurial Activity across Nations," Scales Research Reports N200321, EIM Business and Policy Research. [Downloadable!]
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  24. Roy Thurik & Isabel Grilo, 2006. "Entrepreneurship in the old en new Europe," Scales Research Reports N200516, EIM Business and Policy Research. [Downloadable!]
  25. 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)
  26. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, vol. 13(1), pages 27-55, August. [Downloadable!] (restricted)
  27. Blanchflower, D.G. & Oswald, A., 1991. "What Makes an Entrepreneur?," Economics Series Working Papers 99125, University of Oxford, Department of Economics.
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  28. 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)
  29. David Audretsch & Roy Thurik, 1997. "Sources of Growth," Tinbergen Institute Discussion Papers 97-109/3, Tinbergen Institute. [Downloadable!]
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. Frank Stephen & David Urbano & Stefan Hemmen, 2009. "The responsiveness of entrepreneurs to working time regulations," Small Business Economics, Springer, vol. 32(3), pages 259-276, March. [Downloadable!] (restricted)
  2. Ari Hyytinen & Pekka Ilmakunnas, 2007. "Entrepreneurial Aspirations: Another Form of Job Search?," Small Business Economics, Springer, vol. 29(1), pages 63-80, June. [Downloadable!] (restricted)
  3. Verheul, I. & Stel, A.J. van & Thurik, A.R., 2005. "Explaining Female and Male Entrepreneurship at the Country Level," Research Paper ERS-2005-089-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:
  4. Michael Peneder, 2009. "The Meaning of Entrepreneurship: A Modular Concept," Journal of Industry, Competition and Trade, Springer, vol. 9(2), pages 77-99, June. [Downloadable!] (restricted)
    Other versions:
  5. Andreas Freytag & Roy Thurik, 2007. "Entrepreneurship and its determinants in a cross-country setting," Journal of Evolutionary Economics, Springer, vol. 17(2), pages 117-131, April. [Downloadable!] (restricted)
    Other versions:
  6. Roy Thurik & Isabel Grilo, 2005. "Determinants of entrepreneurial engagement levels in Europe and the US," Papers on Entrepreneurship, Growth and Public Policy 2005-25, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
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  7. Peter van der Zwan & Roy Thurik & Isabel Grilo, 2006. "The Entrepreneurial Ladder and its Determinants," Tinbergen Institute Discussion Papers 06-103/3, Tinbergen Institute, revised 14 Nov 2007. [Downloadable!]
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  8. Lorraine Uhlaner & Roy Thurik, 2005. "Post-Materialism Influencing Total Entrepreneurial Activity Across Nations," Papers on Entrepreneurship, Growth and Public Policy 2005-20, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
    Other versions:
  9. Isabel Grilo & Roy Thurik, 2005. "Entrepreneurial engagement levels in the European Union," Papers on Entrepreneurship, Growth and Public Policy 2005-29, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
    Other versions:
  10. Isabel Grilo & Jesus-Maria Irigoyen, 2006. "Entrepreneurship in the EU: To Wish and not to be," Small Business Economics, Springer, vol. 26(4), pages 305-318, 05. [Downloadable!] (restricted)
  11. Axel Dreher & Martin Gassebner, 2007. "Greasing the Wheels of Entrepreneurship? The Impact of Regulations and Corruption on Firm Entry," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  12. Sander Wennekers & Roy Thurik & André Stel & Niels Noorderhaven, 2007. "Uncertainty avoidance and the rate of business ownership across 21 OECD countries, 1976–2004," Journal of Evolutionary Economics, Springer, vol. 17(2), pages 133-160, April. [Downloadable!] (restricted)
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  13. Erik Stam & Roy Thurik & Peter van der Zwan, 2008. "Entrepreneurial Exit in Real and Imagined Markets," Tinbergen Institute Discussion Papers 08-031/3, Tinbergen Institute, revised 31 Dec 2008. [Downloadable!]
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  14. Ruta Aidis & Saul Estrin, 2006. "Institutions, Networks and Entrepreneurship Development in Russia: An Exploration," William Davidson Institute Working Papers Series wp833, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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