Judicial efficiency and entrepreneurs’ expectations on the reliability of European legal systems

Many theories have tried to discover the determinants of entrepreneurship while at the same time defining a policy contour for its promotion. This study advances the extant discussion by focusing on the specific relationship between national judiciaries’ performances and expectations about the reliability of the legal framework, which is an important component fostering entrepreneurial action. More precisely, by conducting an empirical investigation on a number of European countries, it assesses the role that judicial efficiency plays in reducing endogenous uncertainty in markets.