We develop entrepreneurship and institutional theory to explain variation in different types ofentrepreneurship across individuals and institutional contexts. Our framework generateshypotheses about the negative impact of higher levels of corruption, weaker property rightsand especially...

This paper estimates an unobserved components model to explore the macro dynamics ofentrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis,defined as a macro dynamic structure in which cyclical fluctuations have persistent effects onthe natural rate of...