PurposeThe 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/approachThe authors employ an annual panel covering 30 OECD countries from 1993 to 2011.FindingsAn 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/valueThe authors are the first to explore the interaction of economic and political institutions in the development of entrepreneurship.
Journal of Enterpreneurship and Public Policy – Emerald Publishing
Published: Nov 6, 2017
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