Cultural hysteresis, entrepreneurship and economic crisis
研究了欧洲经济衰退期间，文化变化滞后于经济变化导致的“文化滞后”效应如何影响创业激励的效率，发现地中海国家该效应较弱，女性青年对激励的反应几乎不受影响。
Entrepreneurship has been advocated as one of the major solutions for coping with (youth) unemployment in Europe during the recent economic downturn. Entrepreneurial activity is generally co-determined by economic and cultural factors. However, cultural change normally requires a much longer time to take place than economic changes do. This may prompt a so-called cultural hysteresis effect in the efficiency of entrepreneurial incentives. To analyze these effects, data from the Global Entrepreneurship Monitor (2003–2010) are used. A Two-Stage Least Square instrumental variable and a logit model with difference-in-differences are employed. We find that the cultural hysteresis is less prominent among Mediterranean countries. Moreover, it is almost negligible in the response to incentives by female youth.