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Economic Freedom and Entrepreneurship: A Panel Study of the United States

Economic Freedom and Entrepreneurship: A Panel Study of the United States We run panel regressions to test the impact of economic freedom in the 50 states on five different measures of Entrepreneurship. We find that higher average levels of economic freedom lead to higher average business birth rates and, in some cases, more patents per capita in a state. When we examine the subcomponents of the freedom index we find that smaller size of government is important for higher levels of business births and patents. We find no consistent significant connection between economic freedom and venture capital per capita, sole proprietorship rates, or the Kauffman index of entrepreneurship. JEL codes: L26, M13, O43 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Entrepreneurship Addleton Academic Publishers

Economic Freedom and Entrepreneurship: A Panel Study of the United States

American Journal of Entrepreneurship , Volume 6 (1): 21 – Jan 1, 2013

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
2164-9685
Publisher site
See Article on Publisher Site

Abstract

We run panel regressions to test the impact of economic freedom in the 50 states on five different measures of Entrepreneurship. We find that higher average levels of economic freedom lead to higher average business birth rates and, in some cases, more patents per capita in a state. When we examine the subcomponents of the freedom index we find that smaller size of government is important for higher levels of business births and patents. We find no consistent significant connection between economic freedom and venture capital per capita, sole proprietorship rates, or the Kauffman index of entrepreneurship. JEL codes: L26, M13, O43

Journal

American Journal of EntrepreneurshipAddleton Academic Publishers

Published: Jan 1, 2013

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