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Entrepreneurship: The role of extreme events

  • Brück, Tilman
  • Llussá, Fernanda
  • Tavares, José A.

We use aggregate country data as well as individual level survey to uncover, for the first time, the effect of extreme events such as natural disasters and terrorist attacks on entrepreneurial activity. We find that natural disasters and terrorist attacks influence individual perceptions of the rewards to entrepreneurship and, more surprisingly, extreme events affect entrepreneurship rates positively in a robust and significant way.

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File URL: http://www.sciencedirect.com/science/article/pii/S0176268011000796
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Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 27 (2011)
Issue (Month): S1 ()
Pages: S78-S88

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Handle: RePEc:eee:poleco:v:27:y:2011:i:s1:p:s78-s88
DOI: 10.1016/j.ejpoleco.2011.08.002
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505544

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