Is entrepreneurship a leading or lagging indicator of the business cycle? : evidence from UK self-employment data/ created by Simon Parker; Emilio Congregado and Antonio A. Golpe

By:

Parker, Simon C [author]

Contributor(s):

Material type: Text

TextSeries: International small business journal ; Volume 30, number 7London : Sage, 2012Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

02662426

Subject(s):

Business cycles -- Entrepreneurship -- Self-employment -- United Kingdom

LOC classification:

HD2341.167

Online resources:

Click here to access online

Abstract: Previous studies provide suggestive evidence that entrepreneurship varies with the state of the business cycle. This article extends the knowledge base by exploring whether the rate of self-employment – a widely used measure of entrepreneurship – is a lagging or leading indicator of the business cycle. The study, which utilizes time series UK data on aggregate output, unemployment and self-employment rates, is robust to structural breaks in the cyclical relationships between these variables. The study finds evidence of significant bi-directional causality: that is, entrepreneurship both causes and is caused by business cycles. The covariance of entrepreneurship is positive with respect to output and negative with respect to unemployment.

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Holdings
Item type	Current library	Call number	Vol info	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HD2341.167 INT (Browse shelf(Opens below))	Vol. 30, no.7 (pages 736-753)	Not for loan	For in house use only

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Previous	HD2341.167 INT The impact of ICT on innovation activities : evidence for UK SMEs/	HD2341.167 INT Trust as a moderator of the relationship between organizational learning and marketing capabilities : evidence from Spanish SMEs/	HD2341.167 INT Introduction to the special issue on enterprise activity, performance and policy during times of crisis/	HD2341.167 INT Is entrepreneurship a leading or lagging indicator of the business cycle? : evidence from UK self-employment data/	HD2341.167 INT Small business responses to a major economic downturn : empirical perspectives from New Zealand and the United/ Kingdom	HD2341.167 INT Small business financing in the UK before and during the current financial crisis/	HD2341.167 INT The equity funding of smaller growing companies and regional stock exchanges/	Next

Previous studies provide suggestive evidence that entrepreneurship varies with the state of the business cycle. This article extends the knowledge base by exploring whether the rate of self-employment – a widely used measure of entrepreneurship – is a lagging or leading indicator of the business cycle. The study, which utilizes time series UK data on aggregate output, unemployment and self-employment rates, is robust to structural breaks in the cyclical relationships between these variables. The study finds evidence of significant bi-directional causality: that is, entrepreneurship both causes and is caused by business cycles. The covariance of entrepreneurship is positive with respect to output and negative with respect to unemployment.

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