Economic Crises And Entrepreneurship: A Comparison Of Developed And Less Developed Countries

Abstract

This paper examines the change in entrepreneurial activity in developed and less developed countries during the period surrounding the 2008-2009 Global Crisis. The paper also examines how several entrepreneurship-related factors including costs, taxes, number of procedures, legal rights and credit coverage had changed for the two groups of countries after the Global Crisis. For the developed nations, we find that most factors had not significantly changed from the pre-crisis period to the post-crisis period.