From kiwis to pad thai : why similar national framework conditions may lead to different entrepreneurial outcomes

Analyzing GEM 2005 data, we confirm that entrepreneurship and economic development form a U-shaped curve. We seek to understand New Zealand’s large deviation from the modeled curve by analyzing all countries’ deviations from the curve. We make recommendations that would move New Zealand toward the trend line and thus aid in increasing its level of economic development. Our findings more generally suggest how entrepreneurial policies should be designed differently, depending on the current level of economic development and a region’s short and long-term economic goals.