Skip to main content

Advertisement

SpringerLink
Log in

How Does Institutional Quality Affect Business Start-Up in High and Middle-Income Countries? An International Comparative Study

  • Published:
Journal of the Knowledge Economy Aims and scope Submit manuscript

Abstract

By applying dynamic panel data models and using worldwide governance indexes and popular country-level entrepreneurship measures over the period 1999 through 2018, this research aims to study why and how does institutional quality affect business start-up in high- and middle-income countries, after controlling for factors related to the institutional and macroeconomic environments. Our results indicate, first, that good governance promotes largely entrepreneurship in high-income countries, while its impact is moderate in middle-income countries. Second, the size and strength of the relationship between institutions and entrepreneurship vary with the country’s economic development and with the chosen measure of entrepreneurship. Third, our findings reveal that the debate over whether corruption “sands” or “greases” the entrepreneurship wheels remains not yet settled even in the case of developed countries. Finally, our investigation highlights some policy implications that are essential for the development of an appropriate entrepreneurship policy to provide the engine of the knowledge economy.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2
Fig. 3

Similar content being viewed by others

References

  • Acs, Z. J., Braunerhjelm, P., Audretsch, D. B., & Carlsson, B. (2009). The knowledge spillover theory of entrepreneurship. Small Business Economics, 32(1), 15–30.

    Google Scholar 

  • Acs, Z. J., Desai, S., & Klapper, L. F. (2008). What does “entrepreneurship” data really show? Small Business Economics, 31(3), 265–281.

    Google Scholar 

  • Acs, Z. J., Estrin, S., Mickiewicz, T., & Szerb, L. (2018). Entrepreneurship, institutional economics, and economic growth: An ecosystem perspective. Small Business Economics, 51(2), 501–514.

    Google Scholar 

  • Ades, A., & Di Tella, R. (1999). Rents, competition, and corruption. American Economic Review, 89(4), 982–993.

    Google Scholar 

  • Aghion, P. (2017). Entrepreneurship and growth: Lessons from an intellectual journey. Small Business Economics, 48(1), 9–24.

    Google Scholar 

  • Aghion, P., Fally, T., & Scarpetta, S. (2007). Credit constraints as a barrier to the entry and post-entry growth of firms. Economic Policy, 22(52), 731–779.

    Google Scholar 

  • Agostino, M., Di Tommaso, M.-R., Nifo, A., Rubini, L., & Trivieri, F. (2020). Institutional quality and firms’ productivity in European regions. Regional Studies, 54(9), 1275–1288.

    Google Scholar 

  • Aidis, R., Estrin, S., & Mickiewicz, T. (2012). Size matters: Entrepreneurial entry and government. Small Business Economics, 39(1), 9–39.

    Google Scholar 

  • Amorós, J., & Masferrer, M. (2010). Dynamics of entrepreneurship and quality of government institutions: An evaluation using cross-country data. In Fourth Global Entrepreneur Monitor Research Conference.

  • Anokhin, S., & Schulze, W. (2009). Entrepreneurship, innovation, and corruption. Journal of Business Venturing, 24(5), 465–476.

    Google Scholar 

  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297.

    Google Scholar 

  • Arshed, N., Rauf, R., & Bukhari, S. (2021). Empirical contribution of human capital in entrepreneurship. Global Business Review, 22(1), 1–13.

    Google Scholar 

  • Audretsch, D. B., & Sanders, M. (2007). Globalization and the rise of the entrepreneurial economy. CEPR Discussion Papers, No. DP6247, May 2008.

  • Ayyagari, M., Demirguc-Kunt, A., & Maksimovic, V. (2008). How important are financing constraints? The role of finance in the business environment. The World Bank Economic Review, 22(3), 483–516.

    Google Scholar 

  • Bailey, J. B., & Thomas, D. W. (2017). Regulating away competition: The effect of regulation on entrepreneurship and employment. Journal of Regulatory Economics, 52, 237–245.

    Google Scholar 

  • Bárcena-Martín, E., Medina-Claros, S., & Pérez-Moreno, S. (2021). Economic regulation, opportunity-driven entrepreneurship and gender gap: Emerging versus high-income economies. International Journal of Entrepreneurial Behavior & Research. https://doi.org/10.1108/IJEBR-05-2020-0321

    Article  Google Scholar 

  • Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.

    Google Scholar 

  • Baum, R., Locke, E., & Smith, K. (2001). A multi-dimensional model of venture growth. Academy of Management Journal, 44, 292–303.

    Google Scholar 

  • Baumol, W. J. (1990). Entrepreneurship: Productive, unproductive and destructive. Journal of Political Economy, 98, 893–921.

    Google Scholar 

  • Beck, T., & Demirguc-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking and Finance, 30(11), 2931–2943.

    Google Scholar 

  • Becker, G. S. (1964). Human capital: A theoretical and empirical analysis with special reference to education. Chicago. IL: Chicago University Press.

  • Berdiev, A. N., & Saunoris, J. W. (2019). Globalization and informal entrepreneurship: A cross-country analysis. Atlantic Economic Journal, 7, 65–80.

    Google Scholar 

  • Berdiev, A. N., & Saunoris, J. W. (2017). Corruption and entrepreneurship: Cross-country evidence from formal and informal sectors. Southern Economic Journal, 84(3), 831–848.

    Google Scholar 

  • Bernard, A. B., Eaton, J., Jensen, J. B., & Kortum, S. S. (2003). Plants and productivity in international trade. American Economic Review, 93(4), 1268–1290.

    Google Scholar 

  • Bjørnskov, C., & Foss, N. J. (2008). Economic freedom and entrepreneurial activity: Some cross-country evidence. Public Choice, 134(3), 307–328.

    Google Scholar 

  • Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87, 115–143.

    Google Scholar 

  • Boettke, P. J., & Coyne, C. J. (2009). Context matters: Institutions and entrepreneurship. Foundations and Trends in Entrepreneurship, 5(3), 135–209.

    Google Scholar 

  • Bologna, J., & Ross, A. (2015). Corruption and entrepreneurship: Evidence from Brazilian municipalities. Public Choice, 165(1–2), 59–77.

    Google Scholar 

  • Bosma, N., Content, J., Sanders, M., & Stam, E. (2018). Institutions, entrepreneurship, and economic growth in Europe. Small Business Economics, 51(2), 483–499.

    Google Scholar 

  • Bosma, N., Zoltan, J. A., Erkko, A., Alicia, C., & Jonathan, L. (2009). Global Entrepreneurship Monitor 2008 Executive report (Babson College, Universidad del Desarrollo, London Business School and Global Entrepreneurship Research Consortium (GERA)).

  • Boudreaux, C. J., Nikolaev, B. N., & Klein, P. (2019). Socio-cognitive traits and entrepreneurship: The moderating role of economic institutions. Journal of Business Venturing, 34(1), 178–196.

    Google Scholar 

  • Bowen, H. P., & De Clercq, D. (2008). Institutional context and the allocation of entrepreneurial effort. Journal of International Business Studies, 39, 747–767.

    Google Scholar 

  • Box, G. E., & Cox, D. R. (1964). An analysis of transformations. Journal of the Royal Statistical Society: Series B (Methodological), 26(20), 211–252.

  • Boyd, N. G., & Vozikis, G. S. (1994). The influence of self-efficacy on the development of entrepreneurial intentions and actions. Entrepreneurship Theory and Practice, 18(4), 63–77.

    Google Scholar 

  • Brush, C. G., Greene, P. G., & Hart, M. M. (2001). From initial idea to unique advantage: The entrepreneurial challenge of constructing a resource base. Academy of Management Perspectives, 15(1), 64–78.

    Google Scholar 

  • Bukari, C., & Anaman, E. A. A. (2020). Corruption and firm innovation: A grease or sand in the wheels of commerce? Evidence from lower-middle and upper-middle income economies. Eurasian Business Review. https://doi.org/10.1007/s40821-020-00164-8

  • Chambers, D., & Munemo, J. (2019). Regulations, institutional quality and entrepreneurship. Journal of Regulatory Economics, 55(1), 46–66.

    Google Scholar 

  • Chowdhury, F., Audretsch, D. B., & Belitski, M. (2019). Institutions and entrepreneurship quality. Entrepreneurship Theory and Practice, 43(1), 51–81.

    Google Scholar 

  • Dau, L. A., & Cuervo-Cazurra, A. (2014). To formalize or not to formalize: Entrepreneurship and pro-market institutions. Journal of Business Venturing, 29(5), 668–686.

    Google Scholar 

  • Davidsson, P., & Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18(3), 301–331.

    Google Scholar 

  • De Soto, H. (2003). The mystery of capital: Why capitalism triumphs in the west and fails everywhere else. Basic Books, New York, NY.

  • Deidda, L., & Fattouh, B. (2002). Non-linearity between finance and growth. Economics Letters, 74(3), 339–345.

    Google Scholar 

  • Demetriades, P., & Hook Law, S. (2006). Finance, institutions and economic development. International Journal of Finance and Economics, 11(3), 245–260.

    Google Scholar 

  • Dinopoulos, E., & Unel, B. (2015). Entrepreneurs, jobs, and trade. European Economic Review, 79, 93–112.

    Google Scholar 

  • Djankov, S., Ganser, T., McLiesh, C., Ramalho, R., & Shleifer, A. (2010). The effect of corporate taxes on investment and entrepreneurship. American Economic Journal: Macroeconomics, 2(3), 31–64.

    Google Scholar 

  • Dorado, S., & Ventresca, M. J. (2013). Crescive entrepreneurship in complex social problems: Institutional conditions for entrepreneurial engagement. Journal of Business Venturing, 28(1), 69–82.

    Google Scholar 

  • Dreher, A., & Gassebner, M. (2013). Greasing the wheels of entrepreneurship? The impact of regulations and corruption on firm entry. Public Choice, 155(3), 413–432.

    Google Scholar 

  • Dreher, A., & Schneider, F. (2010). Corruption and the shadow economy: An empirical analysis. Public Choice, 144(1–2), 215–238.

    Google Scholar 

  • Dutta, N., & Sobel, R. (2016). Does corruption ever help entrepreneurship? Small Business Economics, 47, 179–199.

    Google Scholar 

  • Engle, R. L., Dimitriadi, N., Gavidia, J. V., Schlaegel, C., Delanoe, S., Alvarado, I., He, X., Buame, S., & Wolff, B. (2010). Entrepreneurial intent: A twelve-country evaluation of Ajzen’s model of planned behavior. International Journal of Entrepreneurial Behavior & Research, 16(1), 35–57.

    Google Scholar 

  • Estrin, S., Korosteleva, J., & Mickiewicz, T. (2013). Which institutions encourage entrepreneurial growth aspirations? Journal of Business Venturing, 28(4), 564–580.

    Google Scholar 

  • Estrin, S., Mickiewicz, T., & Stephan, U. (2016). Human capital in social and commercial entrepreneurship. Journal of Business Venturing, 31, 449–467.

    Google Scholar 

  • Foss, N., & Bjørnskov, J.-C. (2016). Institutions, entrepreneurship, and economic growth: What do we know and what do we still need to know? The Academy of Management Perspectives, 30(4), 292–315.

    Google Scholar 

  • Freytag, A., & Thurik, A. R. (2010). Entrepreneurship and culture. New York: Springer.

  • Fritsch, M., & Wyrwich, M. (2014). The long persistence of regional levels of entrepreneurship: Germany 1925 to 2005. Regional Studies, 48, 955–973.

    Google Scholar 

  • Fuentelsaz, L., González, C., & Maicas, L.-P. (2019). Formal institutions and opportunity entrepreneurship. The contingent role of informal institutions. BRQ Business Research Quarterly, 22(1), 5–24.

  • Galindo-Martin, M.-A., Castano-Martinez, M.-S., & Mendez-Picazo, M.-T. (2021). The role of entrepreneurship in different economic phases. Journal of Business Research, 122(C), 171–179.

  • Gamidullaeva, L. A., Vasin, S. M., & Wise, N. (2020). Increasing small- and medium-enterprise contribution to local and regional economic growth by assessing the institutional environment. Journal of Small Business and Enterprise Development, 27(2), 259–280.

    Google Scholar 

  • Global Entrepreneurship Monitor (GEM) Dataset. (2019). Accessed 30 Jan 2019.

  • Greene, W. (2008). Econometric analysis (6th ed.). Upper Saddle River, New Jersey: Prentice Hall.

  • Grilo, I., & Irigoyen, J. M. (2006). Entrepreneurship in the EU: To wish and not to be. Small Business Economics, 26(4), 305–318.

    Google Scholar 

  • Grosanu, A., Bota-Avram, C., Rachisan, P., Vesselinov, R., & Tiron-Tudor, A. (2015). The influence of country-level governance on business environment and entrepreneurship: A global perspective. Amfiteatru Economic, 17(38), 60–75.

    Google Scholar 

  • Grossman, G. M., & Halpman, E. (1991). Trade, knowledge spillovers, and growth. European Economic Review, 35, 517–526.

    Google Scholar 

  • Harraf, A., Ghura, H., Hamdan, A., & Li, X. (2020). Formal institutions and the development of entrepreneurial activity - the contingent role of corruption in emerging economies. Journal of Entrepreneurship and Public Policy, 10(1), 15–37.

    Google Scholar 

  • Heckelman, J. C., & Powell, B. (2010). Corruption and the institutional environment for growth. Comparative Economic Studies, 52(3), 351–378.

    Google Scholar 

  • Holcombe, R. G., & Boudreau, C. J. (2015). Regulation and corruption. Public Choice, 164(1–2), 75–85.

    Google Scholar 

  • Hunter, J. E. (1986). Cognitive ability, cognitive aptitudes, job knowledge, and job performance. Journal of Vocational Behavior, 29, 340–362.

    Google Scholar 

  • Hwang, H., & Powell, W. W. (2005). Institutions and entrepreneurship. In S. A. Alvarez, R. Agarwal, & O. Sorenson (Eds.), Handbook of Entrepreneurship Research: Disciplinary perspectives (pp. 201–232). New York, NY: Springer.

  • Jauregui, A., Heriot, K. C., & Mitchell, D. T. (2020). Corruption and formal-sector entrepreneurship in a middle-income country: Spatial analysis of firm births in the Mexican states. Small Business Economics. https://doi.org/10.1007/s11187-020-00388-y

    Article  Google Scholar 

  • Jian, J., Fan, X., Zhao, S., & Zhou, D. (2021). Business creation, innovation, and economic growth: Evidence from China’s economic transition, 1978–2017. Economic Modelling, 96, 371–378.

    Google Scholar 

  • Jiménez, A., & Alon, I. (2018). Corruption, political discretion and entrepreneurship. Multinational Business Review, 26(2), 111–125.

  • Johnson, S., Kaufman, D., & Zoido-Lobaton, P. (1998). Regulatory discretion and the unofficial economy. The American Economic Review, 88(2), 387–392.

    Google Scholar 

  • Kaufmann, D., Kraay, A., & Mastruzzin, M. (2010). The worldwide governance indicators: Methodology and analytical issues. Policy Research working paper, No. WPS 5430. World Bank.

  • King, R. G., & Levine, R. (1993). Finance, entrepreneurship and growth. Journal of Monetary Economics, 32(3), 513–542.

    Google Scholar 

  • Klapper, L., & Love, I. (2011). The impact of the financial crisis on new firm registration. Economics Letters, 113(1), 1–4.

    Google Scholar 

  • Klapper, L., Amit, R., Guillen, M. F., & Quesada, J. M. (2007a). Entrepreneurship and firm formation across countries. Research Working Paper No. 4313. Washington D.C: World Bank.

  • Klapper, L., Laeven, L., & Rajan, R. (2007b). Entry regulation as a barrier to entrepreneurship. Journal of Financial Economics, 82(3), 591–629.

  • Koellinger, P., & Minniti, M. (2009). Unemployment benefits crowd out nascent entrepreneurial activity. Economics Letters, 103(2), 96–98.

    Google Scholar 

  • Korosteleva, J., & Mickiewicz, T. (2011). Start-up financing in the age of globalization. Emerging Markets Finance and Trade, 47(3), 23–49.

    Google Scholar 

  • Krueger, A. (1974). The political economy of the rent seeking society. American Economic Review, 64, 291–303.

    Google Scholar 

  • Lambsdorff, J. G. (2003). How corruption affects productivity. Kyklos, 56(4), 457–474.

    Google Scholar 

  • Landström, H., Harirchi, G., & Astrom, F. (2012). Entrepreneurship: Exploring the knowledge base. Research Policy, 41(7), 1154–1181.

    Google Scholar 

  • Liu, C., & Mikesell, J. L. (2014). The impact of public officials’ corruption on the size and allocation of U.S. state spending. Public Administration Review, 74(3), 346–359.

  • McGuirk, H., Lenihan, H., & Hart, M. (2015). Measuring the impact of innovative human capital on small firms’ propensity to innovate. Research Policy, 44, 965–976.

    Google Scholar 

  • McMillan, J., & Woodruff, C. (2002). The central role of entrepreneurs in transition economies. Journal of Economic Perspectives, 16(3), 153–170.

    Google Scholar 

  • Méon, P. G., & Weill, L. (2010). Is corruption an efficient grease? World Development, 38(3), 244–259.

    Google Scholar 

  • Minniti, M., & Lévesque, M. (2008). Recent developments in the economics of entrepreneurship. Journal of Business Venturing, 23(6), 603–612.

    Google Scholar 

  • Mohamadi, A., Peltonen, J., & Wincent, J. (2017). Government efficiency and corruption: A country-level study with implications for entrepreneurship. Journal of Business Venturing Insights, 8, 50–55.

    Google Scholar 

  • Mohammadi, K. (2017). Institutions and entrepreneurship: The mediating role of corruption. World Journal of Entrepreneurship, Management and Sustainable Development, 13(3), 262–282.

    Google Scholar 

  • Mueller, S., & Thomas, A. (2001). Culture and entrepreneurial potential: A nine country study of locus of control and innovativeness. Journal of Business Venturing, 16(1), 51–75.

    Google Scholar 

  • North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge University Press, Cambridge.

  • Nyström, K. (2008). The institutions of economic freedom and entrepreneurship: Evidence from panel data. Public Choice, 136, 269–282.

    Google Scholar 

  • Ovaska, T., & Sobel, R. S. (2005). Entrepreneurship in post-socialist economies. Journal of Private Enterprise, 21(1), 8–28.

    Google Scholar 

  • Oyama, D., Sato, Y., Tabuchi, T., & Thisse, J. F. (2011). On the impact of trade on the industrial structures of nations. International Journal of Economic Theory, 7(1), 93–109.

    Google Scholar 

  • Parker, S. C. (2018). The economics of entrepreneurship. Cambridge: Cambridge University Press.

  • Parker, S. C., & Robson, M. T. (2004). Explaining international variations in self-employment: Evidence from a panel of OECD countries. Southern Economic Journal, 71, 287–301.

    Google Scholar 

  • Patel, P-C., & Rietveld, C.-A. (2021). Does globalization affect perceptions about entrepreneurship? The role of economic development. Small Business Economics. https://doi.org/10.1007/s11187-021-00455-y

  • Pelly, R., & Duncan, M. (2017). The story of captain baby face and the coffee maker: An entrepreneurial narrative perspective on corruption. Journal of Management Inquiry, 26(4), 390–405.

    Google Scholar 

  • Rodríguez-Gulías, M. J., de Sousa Gabriel, V. M., & Rodeiro-Pazos, D. (2018). Effects of governance on entrepreneurship: European Union vs non-European Union. Competitiveness Review, 28(1), 43–57.

    Google Scholar 

  • Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. The Stata Journal, 9(1), 86–136.

    Google Scholar 

  • Rothstein, B., & Teorell, J. (2008). What is quality of government? A theory of impartial government institutions. Governance: An International Journal of Policy, Administration and Institutions, 21(2), 165–190.

  • Rousseau, P. L., & Wachtel, P. (2002). Inflation thresholds and the finance-growth nexus. Journal of International Money and Finance, 21(6), 777–793.

    Google Scholar 

  • Schultz, T. W. (1980). Investment in Entrepreneurial ability. Scandinavian Journal of Economics, 82, 437–448.

    Google Scholar 

  • Scott, W. R. (1995). Institutions and organizations. London: Sage.

  • Shepherd, D. A., Parida, V., & Wincent, J. (2020). Bribery from a micro, demand-side perspective. Small Business Economics. https://doi.org/10.1007/s11187-020-00389-x

    Article  Google Scholar 

  • Shumpeter, J. A. (1961). The theory of economic development. New York: Oxford University Press.

  • Sobel, R. S. (2008). Testing Baumol: Institutional quality and the productivity of entrepreneurship. Journal of Business Venturing, 23(6), 641–655.

    Google Scholar 

  • Stephan, U., & Uhlaner, L. M. (2010). Performance-based vs socially supportive culture: A cross-national study of descriptive norms and entrepreneurship. Journal of International Business Studies, 41(8), 1347–1364.

    Google Scholar 

  • Sweidan, O. D. (2021). Economic freedom and entrepreneurship rate: Evidence from the U.S. states after the great recession. Journal of the Knowledge Economy. https://doi.org/10.1007/s13132-020-00714-5

  • Thai, M. T. T., & Turkina, E. (2014). Macro-level determinants of formal entrepreneurship versus informal entrepreneurship. Journal of Business Venturing, 29(4), 490–510.

    Google Scholar 

  • Thurik, A. R., & Wennekers, S. (2004). Entrepreneurship, small business and economic growth. Journal of Small Business and Enterprise Development, 11, 140–149.

    Google Scholar 

  • Unger, J. M., Rauch, A., Frese, M., & Rosenbusch, N. (2011). Human capital and entrepreneurial success: A meta-analytical review. Journal of Business Venturing, 26(3), 341–358.

    Google Scholar 

  • Urbano, D., Aparicio, S., & Audretsch, D. (2019). Twenty-five years of research on institutions, entrepreneurship, and economic growth: What has been learned? Small Business Economics, 53(1), 21–49.

    Google Scholar 

  • Valerio, A., Parton, B., & Robb, A. (2014). Entrepreneurship education and training programs around the world: Dimensions for success. Washington, DC: World Bank.

  • Van Stel, A., Carree, M., & Thurik, R. (2005). The effect of entrepreneurial activity on national economic growth. Small Business Economics, 24(3), 311–321.

    Google Scholar 

  • Welter, F., & Lasch, F. (2008). Entrepreneurship research in Europe: Taking stock and looking forward. Entrepreneurship Theory and Practice, 32(2), 241–248.

    Google Scholar 

  • Williams, C. C. (2007). Entrepreneurs operating in the informal economy: Necessity or opportunity driven? Journal of Small Business and Entrepreneurship, 20, 309–320.

    Google Scholar 

  • World Bank. (2018). Doing Business 2019: Training for Reform (Vol. 2) (English). Doing Business 2019. Washington, D.C: World Bank Group.

  • World Bank. (2019a), Doing business, entrepreneurship database. http://www.doingbusiness.org/data/exploretopics/entrepreneurship. Accessed 30 Jan 2019.

  • World Bank. (2019b). World Development Indicators, online database. https://data.worldbank.org. Accessed 30 Jan 2019.

  • World Development Indicators (WDI). (2019). Accessed 30 Jan 2019.

Download references

Author information

Authors and Affiliations

  1. Gafsa University, Higher Institute of Business Administration of Gafsa, Gafsa, Tunisia

    Tarek Ben Ali

Authors
  1. Tarek Ben Ali
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Tarek Ben Ali.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Appendix

Appendix

Table 2 Definition of research variables and their data sources
Full size table
Table 3 Descriptive statistics
Full size table
Table 4 Correlation matrix
Full size table
Table 5 Fixed effects: regression of institutional quality on entrepreneurship with control variables in the case of total country sample
Full size table
Table 6 Fixed effects: regression of institutional quality on entrepreneurship with control variables in the case of high-income countries
Full size table
Table 7 Fixed effects: regression of institutional quality on entrepreneurship with control variables in the case of middle-income countries
Full size table
Table 8 System GMM estimation (two steps): regression of institutional quality on entrepreneurship with control variables in the case of total country sample
Full size table
Table 9 System GMM estimation (two steps): regression of institutional quality on entrepreneurship with control variables in the case of high-income countries
Full size table
Table 10 System GMM estimation (two steps): regression of institutional quality on entrepreneurship with control variables in the case of high middle-income countries
Full size table
Table 11 Difference GMM estimates (two steps): regression of institutional quality on entrepreneurship with control variables in the case of total country sample
Full size table
Table 12 Difference GMM estimates (two steps): regression of institutional quality on entrepreneurship with control variables in the case of high-income countries
Full size table
Table 13 Difference GMM estimates (two steps): regression of institutional quality on entrepreneurship with control variables in the case of middle-income countries
Full size table

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Ben Ali, T. How Does Institutional Quality Affect Business Start-Up in High and Middle-Income Countries? An International Comparative Study. J Knowl Econ 14, 2830–2877 (2023). https://doi.org/10.1007/s13132-022-00895-1

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s13132-022-00895-1

Keywords

Search

Navigation