Praise and Profits: Cultural and Institutional Determinants of Entrepreneurship

This paper uses data from the World Values Survey, the Global Entrepreneurship Monitor, and the Economic Freedom of the World Annual Report to empirically examine the impact that economic freedom and societal approval of entrepreneurs have on rates of early stage entrepreneurship. It finds that both social approval and economic freedom, specifically freedom from big government, is associated with increased rates of entrepreneurship in a cross section of 21 countries.

Find article at The Journal of Private Enterprise.