Using institutional economics as a theoretical framework, this book
analyzes institutional environment conducive to entrepreneurial activity
in order to enhance economic performance across countries. In
particular, the main contributions of this book to the entrepreneurship
literature are the following:
- Identify past and current research about the institutional context
shaping entrepreneurial activity and its effect on economic growth
- Examine social progress orientation as those institutional factors
that are shaping innovative entrepreneurial activity
- Explore the effect of different types of entrepreneurial activities
on economic growth
- Examine how social progress orientation through opportunity-driven
entrepreneurship affects economic development
- Analyze the interrelationships between institutions, entrepreneurial
activity and economic development across countries
- Study how the country's institutional context influences the way in
which entrepreneurial activity affects social progress
Two sides of the same coin might be observed when analyzing policy
aspects of those institutions affecting entrepreneurial activity. On the
one hand, effective public policy to promote entrepreneurship is
predicated on understanding the underlying forces as well as the
consequences and impacts of entrepreneurship. On the other hand,
different endeavors to promote entrepreneurial activity might have
deleterious economic effects since they could actually reduce employment
in the long-term. Thus, it is crucial to understand the institutional
environment in which entrepreneurs are interacting and making decisions.
The comprehension of these phenomena serves to move forward the
theoretical, practical and policy debate on entrepreneurship as a
mechanism to achieve higher economic performance.
