Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/183373 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
IFN Working Paper No. 1144
Verlag: 
Research Institute of Industrial Economics (IFN), Stockholm
Zusammenfassung: 
The purpose of this paper is to nuance the widely held view that well-functioning institutions are the ultimate prerequisite for innovation and entrepreneurship. This is done by putting the spotlight on the role that formal and informal institutions have in serving the economic status quo, conserving old habits and incumbent economic interests. Therefore, existing institutions often act as impediments to entrepreneurship and innovation. We argue that a common yet underappreciated source of institutional change arises when individuals deviate from the behavior stipulated by existing institutions. All types of deviations are certainly not beneficial, but when they take the form of innovations introduced by entrepreneurs, they can be a particularly powerful source of economic and institutional change. An institutional setup should strike a balance between the need for stability that protects people's expectations and flexibility and adaptability to innovations and the ensuing entrepreneurship.
Schlagwörter: 
Regulation
Norms
Innovation
Entrepreneurship
JEL: 
L50
M13
O31
Dokumentart: 
Working Paper

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