Panta Rhei! Disentangling the temporal dynamics of nascent and future entrepreneurship

Stemming from entrepreneurship capital and role model theories, this study aims at advancing the knowledge on the temporal persistence of nascent entrepreneurship at country level, enlarging the applicability of the theories to a macro level of analysis. This article directly establishes relationships with the new venture creation process in the long run, empirically performing a panel data analysis on the Global Entrepreneurship Monitor dataset (2002–2019) to study nascent entrepreneurship determinants in 35 OECD countries, also investigating relationships towards opportunity versus necessity driven motives. The main findings suggest that the entrepreneurship capital of a nation together with the role model effect tend to be an enduring condition, supporting the overall self-reinforcing nature of nascent entrepreneurship over time. Furthermore, such positive dynamic remains strongly significant controlling both for aggregate and perceptual determinants.The work advances on the narrow literature on the temporal dynamic of nascent entrepreneurship, trying to disentangle the forces behind its persistence. The study highlights new insight on the country level determinants of nascent entrepreneurship offering a framework in which the entrepreneurship capital strongly account for its temporal, self-reinforcing nature.