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.

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.

Publication DOI: https://doi.org/10.1007/s11187-018-0013-9
Divisions: Aston Business School > Economics finance & entrepreneurship
Aston Business School
Additional Information: © The Author(s) 2018. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Uncontrolled Keywords: Economic growth,Ecosystem,Efficiency,Entrepreneurship,GEI,GEM,Solow residual,Technology,Business, Management and Accounting(all),Economics and Econometrics
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Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
Published Date: 2018-03-08
Published Online Date: 2018-03-06
Authors: Acs, Zoltan J.
Estrin, Saul
Mickiewicz, Tomasz ( 0000-0001-5261-5662)
Szerb, László

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