Cultural values, income and entrepreneurship

The aim of this paper is to analyse the interactions between cultural values and entrepreneurial activity in countries with different income levels. Two main data sources have been used. The Schwartz Value Survey (SVS) measures cultural orientations at the country level. The Global Entrepreneurship Monitor (GEM) provides information on entrepreneurial activity. Cultural variables and entrepreneurship, together, account for over 60% of the variance in GDP per capita. One important implication derived from this study concerns the promotion of entrepreneurship measures. They should take into account the specific cultural characteristics of the environment in which they will be implemented.

Inmaculada JAÉN
José Fernández-Serrano
Francisco LIÑÁN
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