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Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective

Acs, Zoltan J., Estrin, Saul, Mickiewicz, Tomasz and Szerb, László (2018) Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective. Small Business Economics, 51 (2). pp. 501-514. ISSN 0921-898X

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Identification Number: 10.1007/s11187-018-0013-9

Abstract

We analyze conceptually and in an empirical counterpart the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In particular, we investigate whether entrepreneurship and institutions, in combination in an ecosystem, can be viewed as a “missing link” in an aggregate production function analysis of cross-country differences in economic growth. To do this, we build on the concept of National Systems of Entrepreneurship (NSE) as resource allocation systems that combine institutions and human agency into an interdependent system of complementarities. We explore the empirical relevance of these ideas using data from a representative global survey and institutional sources for 46 countries over the period 2002–2011. We find support for the role of the entrepreneurial ecosystem in economic growth

Item Type: Article
Official URL: https://link.springer.com/journal/11187
Additional Information: © 2018 The Authors
Divisions: Management
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
J Political Science > JN Political institutions (Europe)
JEL classification: D - Microeconomics > D0 - General > D02 - Institutions: Design, Formation, and Operations
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O38 - Government Policy
P - Economic Systems > P1 - Capitalist Systems > P11 - Planning, Coordination, and Reform
Sets: Departments > Management
Date Deposited: 26 Mar 2018 09:20
Last Modified: 20 Jul 2019 00:09
URI: http://eprints.lse.ac.uk/id/eprint/87350

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