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Designing Composite Entrepreneurship Indicators: An Application Using Consensus PCA

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  • Avanzini, Diego B.
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    Abstract

    Existing indicators of entrepreneurial activity (such as the Global Entrepreneurship Monitor, Entrepreneurship Barometer, FORA.s Entrepreneurship Index, OECD and Economic Commission.s sets of indicators, among others) and several variables that have been considered good proxies for entrepreneurship during the last decades seem to be unsuitable to capture the complex relationship among economic, social, and demographic factors driving entrepreneurial activity.In order to suggest a consistent methodology for measuring entrepreneurship, we review some of the most well-known theoretical dimensions of entrepreneurship and a selection of associated indicators is proposed. Indicators and measures are grouped under theoretical categories and a set of entrepreneurship indicators is constructed using multivariate statistical analysis (Consensus PCA based on NIPALS, with an extension of Probability PCA for dealing with missing values) for a panel of developed and developing countries.

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    File URL: http://www.wider.unu.edu/stc/repec/pdfs/rp2009/RP2009-41.pdf
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    Bibliographic Info

    Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number UNU-WIDER Research Paper RP2009/41.

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    Length: 39
    Date of creation: 2009
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    Handle: RePEc:unu:wpaper:rp2009-41

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    Keywords: entrepreneurship; index; principal components analysis;

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    1. Nadim Ahmad & Richard G. Seymour, 2008. "Defining Entrepreneurial Activity: Definitions Supporting Frameworks for Data Collection," OECD Statistics Working Papers 2008/1, OECD Publishing.
    2. David B. Audretsch & Roy Thurik, 2001. "Linking Entrepreneurship to Growth," OECD Science, Technology and Industry Working Papers 2001/2, OECD Publishing.
    3. Cortinovis, I. & Vella, V. & Ndiku, J., 1993. "Construction of a socio-economic index to facilitate analysis of health data in developing countries," Social Science & Medicine, Elsevier, vol. 36(8), pages 1087-1097, April.
    4. Louis Guttman, 1954. "Some necessary conditions for common-factor analysis," Psychometrika, Springer, vol. 19(2), pages 149-161, June.
    5. Nadim Ahmad & Anders Hoffman, 2008. "A Framework for Addressing and Measuring Entrepreneurship," OECD Statistics Working Papers 2008/2, OECD Publishing.
    6. Michael Freudenberg, 2003. "Composite Indicators of Country Performance: A Critical Assessment," OECD Science, Technology and Industry Working Papers 2003/16, OECD Publishing.
    7. Shin-ichi Fukuda & Takashi Onodera, 2001. "A New Composite Index of Coincident Economic Indicators in Japan: How can we improve the forecast performance? ," CIRJE F-Series CIRJE-F-101, CIRJE, Faculty of Economics, University of Tokyo.
    8. Filmer, Deon & Pritchett, Lant, 1998. "Estimating wealth effects without expenditure data - or tears : with an application to educational enrollments in states of India," Policy Research Working Paper Series 1994, The World Bank.
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