Abstract
The study examines the influences of the global/domestic economic policy uncertainty (EPU) on entrepreneurship in a sample of 23 economies over the period 2006-2016. Employing the two-step system general method of moment (GMM) estimation for unbalanced panel data, our study provides surprising evidence indicating that EPU may not always be harmful to entrepreneurship. Precisely, in contrast with existing literature emphasizing the negative impact of the uncertainty on entrepreneurship, our article suggests that EPU seems to boost pro-entrepreneurial social and cultural norms (i.e., encouraging actions for creation of new businesses). As such, we suggest that uncertainty may serve as an exogenous shock filtering "good" business ventures from "not-so-good" ones.
Original language | English |
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Pages (from-to) | 81-113 |
Number of pages | 32 |
Journal | Journal of Entrepreneurship |
Volume | 30 |
Issue number | 1 |
Early online date | 22 Feb 2021 |
DOIs | |
Publication status | Published - Mar 2021 |
Bibliographical note
© Sage 2021.Keywords
- Economic policy uncertainty
- entrepreneurship
- entrepreneurship attitudes
- institutions