Table 5.

Cross-country regressions of entrepreneurship rates

Explanatory variables	(a)	(b)	(c)	(d)
Population	0.014** (0.0003)	0.015** (0.0004)	0.013** (0.0003)	0.014** (0.0004)
GDP per capita	0.037** (0.002)	0.039** (0.002)	0.024** (0.003)	0.027** (0.003)
Taxes		−0.027* (0.007)		−0.024** (0.007)
Regulations			−0.007** (0.001)	−0.007** (0.001)
Constant	0.159* (0.78)	0.750** (0.174)	0.893** (0.150)	1.393** (0.212)
R-squared	0.79	0.79	0.80	0.80
No. of observations	90	90	90	90

This table reports coefficients from a Poisson Event Count Model where the dependent variable represents the number of people who become billionaire entrepreneurs in each country. Taxes refer to the standard statutory corporate income tax rate as measured by the World Bank. Regulations refer to the ease of doing business, again as measured by the World Bank. Two stars (**) denote statistical significance at the 1% level, and one star (*) denotes statistical significance at the 5% level.