Institutional Entrepreneurship: An Introduction
AbstractIn this introductory chapter to a collective volume,* we build on Baumol’s (1990) framework to categorize, catalog, and classify the budding research field that explores the interplay between institutions and entrepreneurship. Institutions channel entrepreneurial supply into productive or unproductive activities, which likely accounts for a great deal of the disparate economic development of nations. What’s more, entrepreneurship is not only influenced by institutions—entrepreneurs often shape institutions themselves. Entrepreneurship abiding by existing institutions is occasionally disruptive enough to challenge the foundations of prevailing institutions. Entrepreneurs also have the opportunity to evade institutions, which tends to undermine the effectiveness of the institutions in question, or cause them to change for the better. Lastly, entrepreneurs can directly alter institutions through innovative political entrepreneurship. Similar to business entrepreneurship, innovative political activity can be either productive or unproductive, depending on the entrepreneurs’ incentives.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 853.
Length: 28 pages
Date of creation: 07 Oct 2010
Date of revision:
Publication status: Published in Institutional Entrepreneurship, Henrekson, Magnus, Sanandaji, Tino (eds.), 2012, pages xi-xxvii, Edward Elgar.
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Entrepreneurship; Innovation; Institutions; Property rights; Regulation; Self-employment;
Find related papers by JEL classification:
- H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
- L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- P14 - Economic Systems - - Capitalist Systems - - - Property Rights
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-23 (All new papers)
- NEP-ENT-2011-01-23 (Entrepreneurship)
- NEP-HIS-2011-01-23 (Business, Economic & Financial History)
- NEP-SBM-2011-01-23 (Small Business Management)
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- Pier Angelo Toninelli & Michelangelo Vasta, 2011. "Opening the black box of Entrepreneurship: the Italian case in a historical perspective," Department of Economics University of Siena 628, Department of Economics, University of Siena.
- Henrekson, Magnus, 2014. "Entrepreneurship, Innovation and Human Flourishing," Working Paper Series 999, Research Institute of Industrial Economics, revised 15 Jan 2014.
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