Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/210954
Authors: 
Elert, Niklas
Henrekson, Magnus
Year of Publication: 
2020
Series/Report no.: 
IFN Working Paper 1313
Abstract: 
Entrepreneurship plays a pivotal role for institutional change and economic development in transition and developing economies. Formal and informal institutions in such countries are often sub-par, but rather than being constrained by them, entrepreneurship can often affect institutions and contribute to their evolution. We highlight three entrepreneurial responses to the institutional status quo: an abiding response, an altering response, and an evasive response. Each response can be either welfare-enhancing or welfare-reducing; more importantly, each response can affect the institutional framework of the society in which it occurs. Better knowledge of entrepreneurial responses to institutions and the context in which they occur offers a promising avenue for future research and a potential way of sustaining lasting institutional change and economic development.
Subjects: 
Development
Entrepreneurship
Evasion
Innovation
Institutions
Regulation
JEL: 
L50
M13
O31
P14
Document Type: 
Working Paper

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