Cited by 582Entrepreneurship Studies and InfluencesEconomic Growth and ProductivityCulture, Economy, and Development Studies

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Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective

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Acs, Zoltan J., Estrin, Saul, Mickiewicz, Tomasz, Szerb, László·2018·Small Business Economics

DOI 10.1007/s11187-018-0013-9

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Abstract

We analyze conceptually and in an empirical counterpart the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In particular, we investigate whether entrepreneurship and institutions, in combination in an ecosystem, can be viewed as a “missing link” in an aggregate production function analysis of cross-country differences in economic growth. To do this, we build on the concept of National Systems of Entrepreneurship (NSE) as resource allocation systems that combine institutions and human agency into an interdependent system of complementarities. We explore the empirical relevance of these ideas using data from a representative global survey and institutional sources for 46 countries over the period 2002–2011. We find support for the role of the entrepreneurial ecosystem in economic growth.

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Authors: Acs, Z. J., Estrin, S., Mickiewicz, T., & Szerb, L.
Affiliations: London School of Economics and Political Science (GB)
Aston University (GB)
University of Pecs (HU)
Corresponding author: Estrin, Saul
ORCID: Estrin, Saul
Mickiewicz, Tomasz
Szerb, László
Venue: Small Business Economics
Publisher: Springer Science and Business Media LLC
Published: 2018-03-06
Volume: 51
Issue: 2
Pages: 501-514
ISSN: 0921-898X (ISSN-L)
1573-0913
DOI: 10.1007/s11187-018-0013-9
OpenAlex: W2794350933
Cited by: 582
References: 85
Citations by year: 2026: 67 · 2025: 77 · 2024: 73 · 2023: 81 · 2022: 79 · 2021: 82 · 2020: 73 · 2019: 41 · 2018: 9
FWCI: 68.72
Type: journal article
Language: en
Open access: hybrid
doi.org
Licence: cc-by
creativecommons.org/licenses/by/4.0 (tdm)
Locations: Small Business Economics (publishedVersion, cc-by)
London School of Economics and Political Science Research Online (London School of Economics and Political Science) (submittedVersion)
Aston Publications Explorer (Aston University) (submittedVersion)
London School of Economics and Political Science Theses Online (London School of Economics and Political Science) (submittedVersion)
RePEc: Research Papers in Economics (submittedVersion)
Funders: London School of Economics and Political Science
Topics: Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Entrepreneurship Studies and Influences
Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
Social Sciences › Development › Culture, Economy, and Development Studies
Keywords: entrepreneurship, institutional economics, economic growth, entrepreneurial ecosystems, resource allocation, human agency, factor inputs, cross-country growth differences, aggregate production function

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Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective

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