Entrepreneurship: the role of extreme events

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46 Citations (Scopus)


We use aggregate country data as well as individual level survey to uncover, for the first time, the effect of extreme events such as natural disasters and terrorist attacks on entrepreneurial activity. We find that natural disasters and terrorist attacks influence individual perceptions of the rewards to entrepreneurship and, more surprisingly, extreme events affect entrepreneurship rates positively in a robust and significant way.

Original languageEnglish
Pages (from-to)S78-S88
JournalEuropean Journal Of Political Economy
Issue numberSUPPL. 1
Publication statusPublished - Dec 2011


  • Entrepreneurship
  • Extreme events
  • Natural disasters
  • Perceptions
  • Terrorism


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