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首页> 外文期刊>International entrepreneurship and management journal >The relationship among entrepreneurial activity, business cycles and economic openness
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The relationship among entrepreneurial activity, business cycles and economic openness

机译：创业活动，商业周期与经济开放之间的关系

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We investigate the interplay among entrepreneurial activity, business cycles and unemployment in relation to economic openness. Additionally, we explore to what extent the observation frequency (quarterly versus annual data) influences the estimation results. Following the empirical literature, we estimate a pooled vector autoregression (VAR) model with fixed effects for the three macroeconomic variables. Using both quarterly and annual data for 19 OECD countries for the period 1998-2007, we observe that over the short term (after one quarter), a country's entrepreneurial activity is stimulated when its business cycle lags behind the world business cycle, whereas over the medium term (after 1 to 2 years), entrepreneurial activity is stimulated when its business cycle leads the world business cycle. This pattern suggests that a country's business cycle position relative to the world cycle creates different types of entrepreneurial opportunities depending on the time horizon considered. These results apply only to economies that are relatively open, which suggests that economic openness plays a role in generating entrepreneurial opportunities related to a country's cyclical performance.
机译：我们调查了企业家活动，商业周期和失业之间与经济开放性之间的相互作用。此外，我们探讨了观测频率（季度数据与年度数据）在多大程度上影响估计结果。根据经验文献，我们估计了三个向量宏观变量具有固定影响的集合向量自回归（VAR）模型。使用1998-2007年间OECD 19个国家的季度和年度数据，我们观察到，在短期内（四分之一之后），当一个国家的商业周期落后于世界商业周期时，就会刺激该国的企业家活动。在中期（1-2年后），当其商业周期领先于世界商业周期时，就会激发创业活动。这种模式表明，一个国家相对于世界周期的商业周期位置会根据所考虑的时间范围产生不同类型的创业机会。这些结果仅适用于相对开放的经济体，这表明经济开放性在产生与一个国家的周期性表现有关的创业机会中发挥了作用。

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