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National systems of entrepreneurship: measurement issues and policy implications

Acs, Zoltan J., Autio, Erkko and Szerb, László (2014) National systems of entrepreneurship: measurement issues and policy implications. Research Policy, 43 (3). pp. 476-494. ISSN 0048-7333

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Abstract

We introduce a novel concept of National Systems of Entrepreneurship and provide an approach to characterizing them. National Systems of Entrepreneurship are fundamentally resource allocation systems that are driven by individual-level opportunity pursuit, through the creation of new ventures, with this activity and its outcomes regulated by country-specific institutional characteristics. In contrast with the institutional emphasis of the National Systems of Innovation frameworks, where institutions engender and regulate action, National Systems of Entrepreneurship are driven by individuals, with institutions regulating who acts and the outcomes of individual action. Building on these principles, we also introduce a novel index methodology to characterize National Systems of Entrepreneurship. The distinctive features of the methodology are: (1) systemic approach, which allows interactions between components of National Systems of Entrepreneurship; (2) the Penalty for Bottleneck feature, which identifies bottleneck factors that hold back system performance; (3) contextualization, which recognizes that national entrepreneurship processes are always embedded in a given country's institutional framework.

Item Type: Article
Official URL: http://www.sciencedirect.com/science/journal/00487...
Additional Information: © 2013 Elsevier B.V.
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: M - Business Administration and Business Economics; Marketing; Accounting > M2 - Business Economics
Sets: Departments > Management
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Funders: Enterprise Research Centre, Engineering and Physical Sciences Research Council
Projects: ES/K006614/1
Date Deposited: 09 Apr 2014 08:48
URL: http://eprints.lse.ac.uk/56426/

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