In the last decade, an increasing body of literature has studied the relation between economic development and the rate of independent entrepreneurship. For several developed countries, this relation seems to have changed from a negative relation into a positive one. However, the role of...

Some three to four decades ago, it was generally accepted in economic literature that the average size of firms would continue to increase with progressive economic development. This would be the result of an ever increasing importance of exploitation of scale economies. However, since that...

This article estimates two unobserved components models to explore the macrodynamics of entrepreneurship in Spain and the USA. We ask whether entrepreneurship exhibits hysteresis, defined as a macrodynamic structure in which the cyclical component of entrepreneurship has persistent effects on...

Many regional development policy initiatives assume that entrepreneurial activities promote economic growth. Empirical research has presented rationale for this argument showing that small firms create proportionally more new jobs than large ones. However, little research has been performed on...

The relationship between self-employment and some macroeconomic variables is and has been at the heart of the debate about self-employment contributions to employment and economic growth. This paper is devoted to the exploration of the co-movement and causality between entrepreneurship and...

We explore the macro structure of entrepreneurship rates in a panel of 23 OECD countries over 1972-2006. We find that rates of entrepreneurship in OECD’s countries exhibit persistence rather than hysteresis. Implications for the design of entrepreneurship policies are discussed

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