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Innovation and Entrepreneurship in the European Union—A Reform Agenda

In: Institutional Reform for Innovation and Entrepreneurship

Author

Listed:
  • Niklas Elert

    (Research Institute of Industrial Economics)

  • Magnus Henrekson

    (Research Institute of Industrial Economics)

  • Mikael Stenkula

    (Research Institute of Industrial Economics)

Abstract

In this chapter, we discuss the institutions that the previous literature identifies as the most relevant for nurturing the activities of entrepreneurs and other actors in the ecosystem’s skill structure. Overall, we discuss nine areas: (i) the rule of law and the protection of property rights; (ii) the tax system; (iii) regulations governing savings, capital and finance; (iv) the organization of labor markets and social insurance systems; (v) regulations governing goods and service markets; (vi) regulations governing bankruptcy and insolvency; (vii) R&D, commercialization and knowledge spillovers; (viii) human capital investments; and (ix) informal institutions. Although our starting point is that some institutions or institutional forms are simply the most propitious for entrepreneurship and economic growth, we complement this first-best perspective with insights offered by the perspectives discussed in Chap. 2 , and clarify the extent to which policies and institutions interact with and reinforce one another.

Suggested Citation

  • Niklas Elert & Magnus Henrekson & Mikael Stenkula, 2017. "Innovation and Entrepreneurship in the European Union—A Reform Agenda," SpringerBriefs in Economics, in: Institutional Reform for Innovation and Entrepreneurship, chapter 0, pages 25-86, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-55092-3_3
    DOI: 10.1007/978-3-319-55092-3_3
    as

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