Explaining International Differences in Entrepreneurship: The Role of Individual Characteristics and Regulatory Constraints

52 Pages Posted: 26 May 2008 Last revised: 29 Oct 2014

See all articles by Silvia Ardagna

Silvia Ardagna

National Bureau of Economic Research (NBER); Goldman Sachs - London

Annamaria Lusardi

George Washington University - Department of Accountancy; National Bureau of Economic Research (NBER)

Date Written: May 2008

Abstract

We use a micro dataset that collects information across individuals, countries, and time to investigate the determinants of entrepreneurial activity in thirty-seven developed and developing nations. We focus both on individual characteristics and on countries' regulatory differences. We show that individual characteristics, such as gender, age, and status in the workforce are important determinants of entrepreneurship, and we also highlight the relevance of social networks, self-assessed skills, and attitudes toward risk. Moreover, we find that regulation plays a critical role, particularly for those individuals who become entrepreneurs to pursue a business opportunity. The individual characteristics that are impacted most by regulation are those measuring working status, social network, business skills, and attitudes toward risk

Suggested Citation

Ardagna, Silvia and Lusardi, Annamaria, Explaining International Differences in Entrepreneurship: The Role of Individual Characteristics and Regulatory Constraints (May 2008). NBER Working Paper No. w14012. Available at SSRN: https://ssrn.com/abstract=1137105

Silvia Ardagna (Contact Author)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Goldman Sachs - London ( email )

130 Peterborough Court
133 Fleet Street
London, EC4A 2BB
United Kingdom

Annamaria Lusardi

George Washington University - Department of Accountancy ( email )

George Washington University School of Business
Washington, DC 20052
United States

HOME PAGE: http://business.gwu.edu/profiles/annamaria-lusardi/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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