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Rule of law and regulatory quality as drivers of entrepreneurship

Author

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  • Mariarosaria Agostino
  • Annamaria Nifo
  • Francesco Trivieri
  • Gaetano Vecchione

Abstract

This paper investigates empirically the effects of institutions on new business formation in the Italian provinces over the period 2004–12. According to the results, local institutional quality positively affects entry rates, and its impact is stronger in high-tech industries. Among different institutional dimensions, rule of law turns out to be more important in southern lagging regions, while regulatory quality seems more relevant in the developed centre–north. In times of crisis, institutional quality loses importance in determining entries, which become more sensitive to the propensity to innovate and to human capital and infrastructural endowments.

Suggested Citation

  • Mariarosaria Agostino & Annamaria Nifo & Francesco Trivieri & Gaetano Vecchione, 2020. "Rule of law and regulatory quality as drivers of entrepreneurship," Regional Studies, Taylor & Francis Journals, vol. 54(6), pages 814-826, June.
    • Handle: RePEc:taf:regstd:v:54:y:2020:i:6:p:814-826
    DOI: 10.1080/00343404.2019.1648785
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    Cited by:

    1. Bojan Moric Milovanovic & Zoran Wittine & Zoran Bubas, 2021. "Examining Entrepreneurial Orientation €“ Performance Relationship Among Croatian Service Smes," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 30(2), pages 509-526, december.
    2. Dogan Kesap & Ali Riza Sandalcilar, 2024. "Panel Causality Analysis of the Relationship among the Rule of Law, Technological Advances, Competitiveness, and Value-Added," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 73(74-1), pages 159-191., June.
    3. Errico, Lucia & Rondinella, Sandro & Trivieri, Francesco, 2024. "Diversity in banking and new firm formation. Insights from the Italian local credit markets," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 1095-1109.
    4. Ibrahim Mike Okumu & Patricia Naluwooza & Edward Bbaale, 2022. "Firm Dynamics, Job Creation and Job Destruction in Africa: Is the Quality of Institutional Environment Relevant?," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(6), pages 2970-3004, December.
    5. Pablo Muñoz & Jonathan Kimmitt & Ben Spigel, 2024. "Trans-contextual work: doing entrepreneurial contexts in the periphery," Small Business Economics, Springer, vol. 62(2), pages 607-628, February.
    6. Mariarosaria Agostino & Sabrina Ruberto, 2023. "Family Ties, Social Capital and Small Businesses’ Efficiency. Evidence from the Italian Food Sector," Journal of Family and Economic Issues, Springer, vol. 44(4), pages 935-955, December.
    7. Cristian Barra & Nazzareno Ruggiero, 2022. "On the impact of knowledge and institutional spillovers on RIS efficiency. Evidence from Italian regional level," Growth and Change, Wiley Blackwell, vol. 53(2), pages 702-752, June.
    8. Mariarosaria Agostino & Lucia Errico & Sandro Rondinella & Francesco Trivieri, 2022. "Do cooperative banks matter for new business creation? Evidence on Italian manufacturing industry," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(3), pages 637-675, September.
    9. Savoia, Francesco & Bandini, Federica & Bolzani, Daniela & Grassi, Eleonora, 2023. "Quality of institutions and employment dynamics of social enterprises: Evidence from Italian regions," Finance Research Letters, Elsevier, vol. 56(C).
    10. Miguel-Angel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2020. "The Relationship between Green Innovation, Social Entrepreneurship, and Sustainable Development," Sustainability, MDPI, vol. 12(11), pages 1-19, June.
    11. Pasiouras, Fotios & Samet, Anis, 2022. "Social capital and the cost of bank equity: Cross-country evidence," Journal of Banking & Finance, Elsevier, vol. 141(C).
    12. Mazzuca, Maria & Panzera, Elena & Ruberto, Sabrina, 2023. "The investor's participation in social impact bonds," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 349-363.

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