ABSTRACT

This paper implements a multiple linear regression model on panel data of a sample of 64 countries over the period (2002–2015), in order to examine the influence of Entrepreneurship on the growth of output per worker. Our estimation strategy allows for providing a framework that accounts for some of the conflicting findings on the entrepreneurship–growth nexus. We account for the endogeneity of entrepreneurship by using a valid instrument, andfor the level of development and its interaction with entrepreneurship, we also account for the size of the informal economy as a moderating variable of the entrepreneurship–growth nexus. We find that the effect of entrepreneurship on growth is positive and significant, but the analysis fails to support that the relation varies by level of development and the size of the informal economy. Policy implications point to fostering entrepreneurship and designing policies that take into consideration the macroeconomic environment of the country.

摘要

本文对 2002-2015 年期间（2002-2015 年）64 个国家样本的面板数据实施多元线性回归模型，以检验企业家精神对每个工人产出增长的影响。我们的估计策略允许提供一个框架，该框架解释了关于创业-增长关系的一些相互矛盾的发现。我们使用有效的工具来解释创业的内生性，对于发展水平及其与创业的相互作用，我们还将非正规经济的规模作为创业-增长关系的调节变量来考虑。我们发现创业对增长的影响是积极且显着的，但分析未能支持这种关系因发展水平和非正规经济规模而异。