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Article
Publication date: 6 November 2017

Jacob Lihn and Christian Bjørnskov

The purpose of this paper is to explore how the strength of political veto players affects the long-run credibility of economic institutions and how they jointly affect…

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Abstract

Purpose

The purpose of this paper is to explore how the strength of political veto players affects the long-run credibility of economic institutions and how they jointly affect entrepreneurial activity.

Design/methodology/approach

The authors employ an annual panel covering 30 OECD countries from 1993 to 2011.

Findings

An error correction model identifies a positive and significant short-run effect on self-employment from large government spending at low levels of veto player strength. A static model conversely indicates that smaller government spending is positively associated with entrepreneurship at lower levels of veto player strength in the long run.

Originality/value

The authors are the first to explore the interaction of economic and political institutions in the development of entrepreneurship.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 3
Type: Research Article
ISSN: 2045-2101

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