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The impact of institutions on entrepreneurial activity

  • Frank H. Stephen

    (The University of Manchester, UK)

  • David Urbano

    (Autonomous University of Barcelona, Spain)

  • Stefan van Hemmen

    (Autonomous University of Barcelona, Spain)

This paper presents an empirical analysis of the factors which promote entrepreneurial activity across a number of transition, developing and developed countries. It produces results which highlight the importance of institutions in promoting entrepreneurial activity. This work is part of an on-going research project on the relationship between the legal system and factors which influence economic development. In particular, it has been shown that legal rules protecting creditors and investors influence the size of financial markets which in turn influence economic development. Our paper thus extends the analysis of the impact of institutions beyond that previously established to demonstrate its influence on another driver of economic development. Copyright © 2005 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/mde.1254
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Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

Volume (Year): 26 (2005)
Issue (Month): 7 ()
Pages: 413-419

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Handle: RePEc:wly:mgtdec:v:26:y:2005:i:7:p:413-419
Contact details of provider: Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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  19. Acemoglu, Daron & Johnson, Simon & Robinson, James & Thaicharoen, Yunyong, 2003. "Institutional causes, macroeconomic symptoms: volatility, crises and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 49-123, January.
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