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Working paper

Entrepreneurial Activity and Institutions. The Impact of Rule of Law and Control of Corruption

Shagbazian G., Aistov A.
The work is devoted to the analysis of entrepreneurial activities. The main purpose of paper is to better understand the institutional impact on entrepreneurship and business survival. Were used data from GEM (Global Entrepreneurship Monitor) for 98 countries throughout 1999-2016 as dependent variables such as total entrepreneurial activity (TEA), established business ownership (EBO), and early-stage business survival rate (EBO/TEA). As explanatory variables characterizing institutional environment we used the rule of law and control of corruption.The results show positive relationships between rule of law and early-stage business survival, and between control of corruption and early-stage business survival rate. Also the rule of law positively influence on level EBO. However, there was no evidence that rule of law and control of corruption are important for the total entrepreneurial activity.