Purpose -The aim of this study is to analyze the impact of institutions on entrepreneurship in groups of countries classified according to their economic development. Design/methodology/approach -Data used come from the Global Entrepreneurship Monitor, the Economic Freedom in the World Index; and from the Global Competitiveness Report. Findings -The results provide useful information for the public and private sectors as evidence that some institutional variables that influence business creation depend on the development stage and report critical aspects to progress in each type of country in order to foster entrepreneurship. In developing nations the "size of the business sector" and "health and primary education" are critical variables, while for transition economies they stack the "integrity of the legal system" and "fulfilling contracts" and for developed economies the "size of the government" and "credit available to the private sector". Originality/value -This study constitutes an unusual approach because the literature on the impact of institutions on entrepreneurship is very scarce.
Although entrepreneurship is widely considered an engine of growth, it is not clear whether policies, de facto, promote it, and knowing which individuals are willing to become entrepreneurs could help in the design of those policies. In this paper, we study how individuals become entrepreneurs at different ages, according to the degree of development of the country of residence. We make use of the GEM 2014 Adult Population Survey data, against a background where social norms are controlled, to find that the relationship between entrepreneurship and age follows an inverted U-shape, according to machine learning techniques, and that younger individuals are the most willing to become entrepreneurs.
Most of the nations forming the Eurozone are hoping to boost entrepreneurship as one of the leading elements for job creation, innovation, and wealth to overcome the economic crisis. However, the quality of the entrepreneurial activity changes when qualified initiatives tend to impact on the economic development, while non-vocational-driven entrepreneurship has a null or little impact on the economy. This research analyzes the average quality of the Eurozone entrepreneurial activity driven by innovation before and after an economic crisis. The primary results of this chapter are (1) the quality of the entrepreneurial activity increases when there is a public-private collaboration to foster entrepreneurship, and (2) long-term unemployment generates necessity entrepreneurship and diminishes entrepreneurial quality.
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