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Entrepreneurship, Reforms, and Development: Empirical Evidence

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Author Info
Mina Baliamoune-Lutz ()

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Abstract

We examine how entrepreneurship and institutional and policy reforms affect development (proxied by the rate of growth in per–capita income). We do so by performing Arellano-Bond GMM estimations on annual data for a large group of developing and developed countries, and covering the period 1990-2002. We focus in particular on the interplay of trade and institutional reforms and entrepreneurship. The empirical results indicate that the interplay of entrepreneurship and institutions, and the interplay of entrepreneurship and policy reforms, influence the growth effects of entrepreneurship. However, the effects are strikingly different. The impact of institutional reform is positive when the level of entrepreneurship is low and negative when it is high. On the other hand, the effect of policy reform is negative when entrepreneurial activity is weak and positive when it is strong. These results are robust to the inclusion of other control variables.

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Publisher Info
Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 38-2007.

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Length: 29 pages
Date of creation: Mar 2007
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Handle: RePEc:icr:wpicer:38-2007

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Related research
Keywords: development; growth; entrepreneurship; institutions; policy reform;

Find related papers by JEL classification:
E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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  1. Léonce Ndikumana & Mina Baliamoune-Lutz, 2007. "The Growth Effects of Openness to Trade and the Role of Institutions: New Evidence from African Countries," Working Papers 2007-05, University of Massachusetts Amherst, Department of Economics. [Downloadable!]
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  2. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June. [Downloadable!] (restricted)
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  3. Easterly, William & Levine, Ross, 2003. "Tropics, germs, and crops: how endowments influence economic development," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 3-39, January. [Downloadable!] (restricted)
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  4. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December. [Downloadable!] (restricted)
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  7. Krueger, Anne O, 1998. "Why Trade Liberalisation Is Good for Growth," Economic Journal, Royal Economic Society, vol. 108(450), pages 1513-22, September. [Downloadable!] (restricted)
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  9. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300. [Downloadable!] (restricted)
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  10. Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, Oxford University Press, vol. 15(1), pages 99-135, February. [Downloadable!]
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  19. Addison, Tony & Baliamoune-Lutz, Mina, 2006. "Economic reform when institutional quality is weak: The case of the Maghreb," Journal of Policy Modeling, Elsevier, vol. 28(9), pages 1029-1043, December. [Downloadable!] (restricted)
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  20. Mina Baliamoune-Lutz, 2007. "Globalisation and Gender Inequality: Is Africa Different?," Journal of African Economies, Oxford University Press, vol. 16(2), pages 301-348, March.
  21. Clague, Christopher, et al, 1999. " Contract-Intensive Money: Contract Enforcement, Property Rights, and Economic Performance," Journal of Economic Growth, Springer, vol. 4(2), pages 185-211, June. [Downloadable!] (restricted)
  22. Levine, Ross & Loayza, Norman & Beck, Thorsten, 2000. "Financial intermediation and growth: Causality and causes," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 31-77, August. [Downloadable!] (restricted)
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  23. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October. [Downloadable!] (restricted)
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  25. Edwards, Sebastian, 1993. "Openness, Trade Liberalization, and Growth in Developing Countries," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1358-93, September. [Downloadable!] (restricted)
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  27. Benhabib, Jess & Spiegel, Mark M, 2000. " The Role of Financial Development in Growth and Investment," Journal of Economic Growth, Springer, vol. 5(4), pages 341-60, December. [Downloadable!] (restricted)
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  30. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 503-30, May. [Downloadable!] (restricted)
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  31. Dornbusch, Rudiger, 1992. "The Case for Trade Liberalization in Developing Countries," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 69-85, Winter. [Downloadable!] (restricted)
  32. Scully, Gerald W, 1988. "The Institutional Framework and Economic Development," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 652-62, June. [Downloadable!] (restricted)
  33. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal Of Fortune: Geography And Institutions In The Making Of The Modern World Income Distribution," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1231-1294, November. [Downloadable!] (restricted)
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  34. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, 06. [Downloadable!]
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    Other versions:
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. Mina Baliamoune-Lutz, 2008. "On Growth and Development," ICER Working Papers 13-2008, ICER - International Centre for Economic Research. [Downloadable!]
  2. Baliamoune-Lutz, Mina, 2009. "Entrepreneurship and Reforms in Developing Countries," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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