Oil dependence and entrepreneurship: Non-linear evidence |
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| Institution: | 1. Dept. of Economics, Fordham University, USA;2. Dept. of Economics and Finance, West Chester University, USA;1. Department of Economics, Universidad de las Américas Puebla, UDLAP, Ex-Hacienda Santa Catarina Mártir s/n, Cholula Pue 72810, Mexico;2. School of Economics, Universidad Nacional Autónoma de México, UNAM, Circuito Interior, C. U., Ciudad de México 04510, Mexico;1. Bocconi University, Italy;2. International Monetary Fund & CEPR, United States;1. Department of Economics, University of Siegen, 57068 Siegen, Germany;2. CESifo, München, Germany |
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| Abstract: | This study examines the empirical nature of the oil dependence-entrepreneurship nexus, building on recent research that extends the “resource curse” beyond its effects on economic growth. For the period from 2006 to 2018, the sample includes 115 countries at various stages of economic development. Using panel threshold methods, we discover an inverted U-shaped relationship, indicating that even small increases in oil rents increase entrepreneurship below the threshold. Globally, oil rents above a threshold of 77 % stifle entrepreneurship. Regional differences and institutional vulnerability act as moderators. |
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| Keywords: | Oil rents Entrepreneurship Institutions Panel threshold regression |
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