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Financial Sector Development, Openness, and Entrepreneurship: Panel Regression Analysis

Year: 2018

Type: article

Abstract: Entrepreneurship plays a major role in all countries’ economies through generating new jobs and innovation, and in turn making a contribution to the economic growth. Therefore, the determinants underlying entrepreneurship have become important for designing an environment that increases entrepreneurial activity. In this study, we considered it important to investigate the influence of factors such as financial sector development, foreign direct investment (FDI) inflows, and trade and financial openness on entrepreneurship, using information from 15 upper middle income and high-income countries over the 2001–2015 period. The findings reveal that the banking sector and capital market development, FDI inflows, and trade openness affect the total early-stage entrepreneurial activity positively. Furthermore, the crises had a negative impact on the entrepreneurship.

Source: Sustainability

DOI: 10.3390/su10103493

Authors: Yilmaz Bayar, Marius Dan Gavriletea, Zeki Ucar

Institutions: Usak University, Babeș-Bolyai University, Bitlis Eren University

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $2,896