![]() ![]() The “risk shifting” due to limited liability may also lead an entrepreneur to behave in a more aggressive manner and to promote a growth strategy. The aggressiveness of the firm is a means to obtain additional liquidities through higher sales levels, which then alleviates financial constraints allowing for additional operational spending. Financial decisions affect operational decisions. Using a longitudinal dataset on a set of firms established, continuing, and closing over the period of 2002–2007 in France, we explore how a young firm’s financial policy and product market strategy may affect its growth path, as measured by employment growth. These findings have important implications for the implementation of public policy in order to promote entrepreneurial activity and reduce unemployment. Nevertheless, it is the advanced knowledge economies with developed financial markets, fewer institutional regulatory constraints, and greater scope for qualitative entrepreneurship that show lower unemployment rates. ![]() The 2010–2012 period of recovery is a period of a sharp slowdown in entrepreneurial activity, during which the countries that are less dependent on the financial sector proved to be the most resilient in terms of entrepreneurial activity. The financial crisis involved a break in entrepreneurial dynamism, with agricultural economies withstanding the financial crisis better. Results show that the pre-crisis period, from 1999 to 2008, is a period of growth favorable to entrepreneurship. We show that the level of development, sectoral specialization, and institutional variables related to entrepreneurship, functioning of the labor market, and openness of the country are decisive to understand differences in entrepreneurship activity across countries. Our aim is to draw a distinction between managerial and entrepreneurial economies, to identify groups of countries with similar economic and entrepreneurial activity variables, and to determine the economic and institutional drivers of entrepreneurial activities in each group. The purpose of this article is to establish a typology of entrepreneurship for OECD countries over the 1999–2012 period.
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