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This paper studies the role of fiscal policies and institutions in building resilience in sub‐Saharan African countries, focussing on 26 countries that were deemed fragile in the 1990s. We use a probabilistic framework together with GMM estimation to address endogeneity and reverse causality. We find that fiscal institutions and fiscal space, namely the capacity to raise tax revenue and contain current spending, as well as the quality of public expenditure, are significantly and robustly associated with building resilience. Similar conclusions arise from a qualitative study of 7 sub‐Saharan African countries in the sample that built resilience since the 1990s.
This paper studies the role of fiscal policies and institutions in building resilience in sub‐Saharan African countries, focussing on 26 countries that were deemed fragile in the 1990s. We use a probabilistic framework together with GMM estimation to address endogeneity and reverse causality. We find that fiscal institutions and fiscal space, namely the capacity to raise tax revenue and contain current spending, as well as the quality of public expenditure, are significantly and robustly associated with building resilience. Similar conclusions arise from a qualitative study of 7 sub‐Saharan African countries in the sample that built resilience since the 1990s.
Данное исследование посвящено анализу влияния неформальных институтов на предпринимательскую активность в странах с различным уровнем формальной институциональной среды. Автором рассматривается воздействие культурных ценностей, таких как индивидуализм, избегание неопределенности, дистанция власти, доверие, боязнь неудач, принятие риска и др. на предпринимательскую деятельность. Актуальность исследования обусловлена контекстом современного развития экономики, где роль культурных ценностей в предпринимательской деятельности становится все более значимой. С использованием эконометрических методов на международной выборке подтверждается связь между индивидуализмом, уровнем избегания неопределенности, принятием риска, потребностью в независимости и статусом предпринимателя с предпринимательской активностью. Важно отметить, что наблюдаемые взаимосвязи различаются в зависимости от уровня развития формальных институтов в стране. Результаты исследования позволяют глубже понять роль культурных ценностей в формировании предпринимательского поведения и их влияние в различных институциональных условиях. Полученные выводы о различиях в уровнях предпринимательской деятельности объясняются культурными факторами, которые могут быть использованы для разработки более эффективных стратегий поддержки предпринимательства в различных социокультурных контекстах. This study is devoted to the analysis of the impact of informal institutions on entrepreneurial activity in countries with different levels of formal institutional environment. The author examines the impact of cultural values such as individualism, avoidance of uncertainty, distance of power, trust, fear of failure, risk taking, etc. on entrepreneurial activity. The relevance of the research is determined by the context of modern economic development, where the role of cultural values in entrepreneurial activity is becoming increasingly important. Using econometric methods, an international sample confirms the relationship between individualism, the level of uncertainty avoidance, risk acceptance, the need for independence and the status of an entrepreneur with entrepreneurial activity. It is important to note that the observed relationships vary depending on the level of development of formal institutions in the country. The results of the study provide a deeper understanding of the role of cultural values in shaping entrepreneurial behavior and their impact in various institutional settings. The findings on the differences in the levels of entrepreneurial activity are explained by cultural factors that can be used to develop more effective strategies to support entrepreneurship in various socio-cultural contexts.
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