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Determinants of overall and sectoral entrepreneurship: evidence from Portugal

Author

Listed:
  • Gonçalo Brás

    (Polytechnic Institute of Tomar)

  • Elias Soukiazis

    (CeBER and Faculty of Economics, University of Coimbra)

Abstract

As a multidisciplinary concept, entrepreneurship can be explained by numerous factors. Therefore, the aim of this study is to test empirically the determinants of entrepreneurship (overall and sectoral) in the Portuguese economy. Despite the methodological limitations inherent in such studies, which are mainly due to the incompatibility of some series and the temporal limitations of some data, the novelty involving a cross-sectoral view of the entrepreneurial phenomenon fuels this challenge. For this purpose, we employ an estimation approach based on time series models to confirm (or reject) a diversity of hypotheses. The main results indicate that the determinants of entrepreneurship in industry are significantly different from the determinants of entrepreneurship in the service sector in Portugal. On the other hand, the determinants of entrepreneurship in the service sector are very similar to those explaining the overall entrepreneurial activity, due to the high share of services in total economic activity. The main conclusions of the study can guide institutional decision-makers to adopt adequate policies for promoting entrepreneurship in Portugal. Additionally, strategic routes for the sustainable development of entrepreneurial activity are suggested.

Suggested Citation

  • Gonçalo Brás & Elias Soukiazis, 2018. "Determinants of overall and sectoral entrepreneurship: evidence from Portugal," CeBER Working Papers 2018-04, Centre for Business and Economics Research (CeBER), University of Coimbra.
    • Handle: RePEc:gmf:papers:2018-04
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    More about this item

    Keywords

    entrepreneurship; sectoral entrepreneurship; determinants of entrepreneurship; entrepreneurial activity; business services; time series models.;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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