Does Cultural Diversity Increase the Rate of Entrepreneurship?
Russell S. Sobel
The Citadel - School of Business Administration
University of Wisconsin - La Crosse
World Bank Institute
June 10, 2010
Review of Austrian Economics,Vol. 23, No. 3, pp. 269-286, 2010
In the economic development literature, cultural diversity has been shown to have a positive impact on economic outcomes. A culturally diverse society or interaction among different cultures encourages exchange and competition and generates efficient outcome. Our paper hypothesizes that a culturally diverse society has a positive impact on the rate of entrepreneurship. We show that in the United States, a country with good institutions, that cultural diversity or greater cultural capital has clear economic benefits - it increases the rate of entrepreneurship.
Number of Pages in PDF File: 33
Keywords: Cultural Diversity, Entrepreneurship
JEL Classification: L26, 012, 017, P12Accepted Paper Series
Date posted: May 12, 2011
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