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Entrepreneurship and Reforms in Developing Countries

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Baliamoune-Lutz, Mina

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Abstract

We examine how institutional and policy reforms affect the relationship between entrepreneurship and growth. We perform Arellano-Bond GMM estimations on annual data (over the period 1990-2002) from a large group of developing countries and focus in particular on the interplay between policy and institutional reforms and entrepreneurship. We find that the joint effect of trade reform and entrepreneurship on growth is negative, suggesting that trade reform diminishes the positive effects of entrepreneurial ability on growth, while the joint effect of financial sector reform and entrepreneurship has a non-linear impact on growth. Financial sector reforms enhance the growth effect of entrepreneurship at initial levels and diminish it at high levels of reform. In addition, we find that the interplay of institutional reform and entrepreneurship does not seem to matter for the growth effects of entrepreneurship.

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Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Papers with number UNU-WIDER Research Paper RP2009/04.

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Length: 16
Date of creation: 2009
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Handle: RePEc:unu:wpaper:rp2009-04

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Keywords: growth; entrepreneurship; institutions; policy reform;

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  2. Acemoglu, Daron & Verdier, Thierry, 1998. "Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach," Economic Journal, Royal Economic Society, vol. 108(450), pages 1381-1403, September. [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. Hiranya Mukhopadhyay, 1999. "Trade liberalization in sub-Saharan Africa: stagnation or growth?," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(6), pages 825-835.
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  11. Baliamoune, Mina N., 2002. "Assessing the Impact of One Aspect of Globalization on Economic Growth in Africa," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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  15. 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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  16. Mina Baliamoune-Lutz, 2009. "Human Well-Being Effects Of Institutions And Social Capital," Contemporary Economic Policy, Western Economic Association International, vol. 27(1), pages 54-66, 01. [Downloadable!] (restricted)
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