Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86678
Authors: 
Koellinger, P.D.
Thurik, A.R.
Year of Publication: 
2009
Series/Report no.: 
Tinbergen Institute Discussion Paper 09-032/3
Abstract: 
We study the cyclical pattern of entrepreneurial activity. Results across 22 OECD countries for the period 1972-2007 show that entrepreneurial activity is a leading indicator of the business cycle in a Granger-causality sense. This contradicts existing theoretical hypotheses which predict that entrepreneurship is pro-cyclical or not cyclical. We discuss possible causes and implications of this finding.
Subjects: 
Entrepreneurship
business cycle
JEL: 
L26
E32
Document Type: 
Working Paper

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