Praise and profits: Cultural and institutional determinants of entrepreneurship

Benjamin Powell, Cortney Stephen Rodet

Research output: Contribution to journalArticle

18 Scopus citations

Abstract

We use data from the World Values Survey, the Global Entrepreneurship Monitor, and the Economic Freedom of the World Annual Report to empirically examine the impact that economic freedom and societal approval of entrepreneurs have on rates of early stage entrepreneurship. We find that both social approval and economic freedom, specifically freedom from big government, is associated with increased rates of entrepreneurship in a cross section of 21 countries.

Original languageEnglish
Pages (from-to)19-42
Number of pages24
JournalJournal of Private Enterprise
Volume27
Issue number2
StatePublished - 2012

Keywords

  • Culture
  • Economic freedom
  • Entrepreneurship

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