Abstract

The economic recession of 2008-2009 is widely regarded as the worst economic collapse since the Great Depression. The present study focuses on regional resilience factors that may have offered some “protection” from the slowdown in economic activity during this crisis. Drawing from the entrepreneurial-culture approach (Audretsch & Keilbach 2004; Davidsson & Wiklund 1997) and psychological research suggesting a personality-based measure of entrepreneurial culture (Obschonka et al., 2013), we examine whether a prevalent regional entrepreneurial culture predicts a smaller decline in regional startup rates during the crisis, above and beyond the effect of economic resilience factors.

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