Macro-Level Determinants of Entrepreneurship and Endogeneity Bias -A Methodological Contribution

[...]we methodologically demonstrate why and how endogeneity occurs in these studies by analyzing their empirical and theoretical models. [...]after correcting for endogeneity, our analysis identifies the protection of property rights, entrepreneurial culture, income, and economic development as the most consistent macro-determinants of early-stage entrepreneurship, providing important policy and business insights. [...]neurial activities in their respective countries, as they are the supply side represents the characteristics of the population convinced that a high level of entrepreneurial activities has a in terms of resources and abilities that could potentially condi-significant and positive impact on welfare performance at the tion the number of entrepreneurs at the national level.Verheul macro level (Demil etal., 2018). [...]P indexes the number of explanatory variables.