European Research in Entrepreneurship series
Edited by Alain Fayolle, Paula Kyrö, Tonis Mets and Urve Venesaar
Chapter 9: Cultural values and start-up rates in the Spanish provinces
It is widely accepted today that entrepreneurs are a driving force for innovation, job creation and economic growth. Accordingly, these agents have received increasing attention by policy makers and also by the academic community. Different studies have shown that entrepreneurship can contribute significantly to economic growth, job creation and innovation (Reynolds et al., 2005; Carree et al., 2007). There is, therefore, a great interest in understanding which factors are determining the level of entrepreneurship of the different countries or regions. In this sense, the attempts to explain the level of entrepreneurial activity in each area have not been completely successful. Previous research in this respect has tended to find a U-shaped relationship between the level of economic activity and that of entrepreneurship (Wennekers et al., 2005; Carree et al., 2002; Sternberg and Wennekers, 2005). After a certain level of per capita GDP, which has been set by some authors around US$7000 (Pinillos and Reyes, 2011), increased income leads to higher start-uprates.
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