Proceedings of the 2025 7th International Conference on Economic Management and Cultural Industry (ICEMCI 2025)

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How Does Inflation Affect Entrepreneurship? Evidence from a Global Sample Based on GEM Data, 2003–2024

Authors
Yinghao Liu1, *
1The University of Queensland, St Lucia, QLD 4702, Queensland, Australia
*Corresponding author. Email: yinghao.liu@student.uq.edu.au
Corresponding Author
Yinghao Liu
Available Online 3 December 2025.
DOI
10.2991/978-94-6463-888-2_88How to use a DOI?
Keywords
Entrepreneurship; Inflation; Total Early-Stage Entrepreneurial Activity; Global Entrepreneurship Monitor; Panel Data
Abstract

This thesis investigates the impact of inflation on entrepreneurial activity using panel data from 92 countries covered by the Global Entrepreneurship Monitor (GEM) between 2003 and 2024. The analysis focuses primarily on the relationship between inflation and total early-stage entrepreneurial activity (TEA), controlling for key economic and institutional factors. Additionally, the study looks at how inflation impacts various kinds of entrepreneurship by replacing total early-stage entrepreneurial activity (TEA) with necessity entrepreneurship activity (NEA), opportunity entrepreneurship activity (OEA), and high-expectation entrepreneurship activity (HEA). To capture heterogeneity across countries, the analysis also examines results by IMF income group classifications. The findings contribute to the understanding of how macroeconomic instability influences entrepreneurship and highlight important differences by entrepreneurial motivation and country group.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 7th International Conference on Economic Management and Cultural Industry (ICEMCI 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 December 2025
ISBN
978-94-6463-888-2
ISSN
2352-5428
DOI
10.2991/978-94-6463-888-2_88How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yinghao Liu
PY  - 2025
DA  - 2025/12/03
TI  - How Does Inflation Affect Entrepreneurship? Evidence from a Global Sample Based on GEM Data, 2003–2024
BT  - Proceedings of the 2025 7th International Conference on Economic Management and Cultural Industry (ICEMCI 2025)
PB  - Atlantis Press
SP  - 901
EP  - 915
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-888-2_88
DO  - 10.2991/978-94-6463-888-2_88
ID  - Liu2025
ER  -