Table 2.
Epidemics and entrepreneurship: baseline models (dependent variable: Entrepreneurship)
| (2.1) | (2.2) | (2.3) | (2.4) | (2.5) | (2.6) | |
|---|---|---|---|---|---|---|
| Epidemics (incidence) | 0.698*** | 0.394*** | ||||
| (0.129) | (0.125) | |||||
| Epidemics (affected) | 0.001*** | 0.001* | ||||
| (0.0004) | (0.0004) | |||||
| Epidemics (deaths) | 0.057*** | 0.034** | ||||
| (0.022) | (0.015) | |||||
| GDP per capita | −0.698 | −1.213 | −0.816 | |||
| (1.008) | (1.005) | (1.105) | ||||
| Government size | 0.175 | −0.078 | −0.171 | |||
| (0.173) | (0.192) | (0.201) | ||||
| Political freedom | 0.887*** | 0.668* | 0.848** | |||
| (0.329) | (0.360) | (0.340) | ||||
| Regulatory quality | −12.304*** | −8.484** | −10.434*** | |||
| (3.877) | (4.195) | (3.949) | ||||
| Economic freedom | 0.860*** | 0.597** | 0.715*** | |||
| (0.244) | (0.266) | (0.244) | ||||
| Education | −0.070** | −0.074* | −0.072** | |||
| (0.034) | (0.037) | (0.036) | ||||
| Elasticity | ||||||
| Epidemics (incidence) | 0.183*** | 0.110*** | ||||
| (0.033) | (0.036) | |||||
| Epidemics (affected) | 0.131*** | 0.071* | ||||
| (0.027) | (0.041) | |||||
| Epidemics (deaths) | 0.071*** | 0.045** | ||||
| (0.027) | (0.021) | |||||
| Heteroskedasticity test | [0.038] | [0.000] | [0.016] | [0.000] | [0.000] | [0.000] |
| RESET test | [0.003] | [0.000] | [0.000] | [0.401] | [0.000] | [0.010] |
| Observations | 112 | 111 | 111 | 100 | 100 | 100 |
| R-squared | 0.248 | 0.211 | 0.155 | 0.524 | 0.506 | 0.518 |
See Table 1 for variable details. Robust standard errors are in parentheses, and p values are in brackets
Asterisks denote the following significance levels: ***p<0.01, **p<0.05, and *p<0.1