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The opportunity to create a business: Systemic banking crisis, institutional factor conditions and trade openness
Journal of International Entrepreneurship Pub Date : 2020-05-30 , DOI: 10.1007/s10843-020-00275-3
José Carlos Pinho , Maria de Lurdes Martins

This study examines the impact of several institutional factor conditions on entrepreneurship in difficult macroeconomic environments such as a systemic banking crisis. It uses data from the National Expert Survey (NES–GEM). A total of 1771 national entrepreneurship experts representing 44 countries were included in the analysis. Using Laeven and Valencia (2013)’s criteria, 20 countries were considered as most affected by the global economic crisis (group 1) and 24 as less affected (included in group 2) in order to test if opportunity perceptions are significantly affected in times of recovery. In terms of findings, the study confirms that institutional factor conditions strongly impact on the opportunity to create a new business regardless of how damaged the economy of countries hit by the crisis was. Among the six institutional factors studied, four are found to be statistically significant and two are partially significant. The interacting effects of systemic banking crisis and the exposure to international conditions kept the previous relationship relatively unchanged. In terms of contributions, the study first highlights the importance of the institutional view in explaining the opportunities to start-up in the aftermath of a crisis. Second, the study compares the proposed relationships between four sub-sample data sets based on trade openness and banking crisis severity. From a practical and government perspective, this study provides a useful picture of the yet limited understanding of the role that institutions and trade openness can play in entrepreneurs’ perceptions and thus in economic recovery dynamics.



中文翻译:

开办企业的机会:系统性银行危机,制度因素条件和贸易开放

这项研究考察了在制度性银行危机等困难的宏观经济环境下,几种制度因素条件对企业家精神的影响。它使用来自国家专家调查(NES–GEM)的数据。分析中包括来自44个国家的1771名国家企业家专家。根据Laeven和Valencia(2013)的标准,我们认为20个国家是受全球经济危机影响最大的国家(第1组),而24个受影响的国家则较少(包括在第2组中),以检验机会感知是否在时间上受到了重大影响恢复。就调查结果而言,该研究证实,体制因素条件对创立新企业的机会有重大影响,而不论受危机影响的国家的经济受到多大损害。在所研究的六个制度因素中,发现有4个具有统计显着性,另外2个具有部分显着性。系统性银行危机和国际环境的相互影响使以前的关系保持相对不变。在捐款方面,该研究首先强调了机构观点对于解释危机后的创业机会的重要性。其次,该研究根据贸易开放度和银行业危机严重程度比较了四个子样本数据集之间的拟议关系。从实践和政府的角度来看,这项研究提供了有用的印象,即对制度和贸易开放在企业家的观念中并因此在经济复苏动态中所起的作用的有限的理解。

更新日期:2020-05-30
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