Foundations of Entrepreneurship and Economic Development

Harper, David A.

doi:10.4324/9780203380215

Cited by 208 publications

(142 citation statements)

References 279 publications

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“…Furthermore, self-confidence encourages other entrepreneurs to engage in productive activities (van Hemmen et al, 2013). With respect to the benefits for each entrepreneur, Harper (2003) suggests that confidence in one's skills enhances the feelings of internal control and personal agency, which at the same time promote the alertness in entrepreneurs. This alertness sensitivity leads to opportunity perceptions with a lower level of uncertainty.…”

Section: Institutions and Opportunity Entrepreneurshipmentioning

confidence: 99%

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Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence

Aparicio

Urbano

Audretsch

2016

Technological Forecasting and Social Change

499

409

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Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. Abstract: This paper explores the institutional factors that encourage opportunity entrepreneurship in order to achieve higher rates of economic growth. We suggest that institutions may not have an automatic effect, as is typically assumed in models of endogenous growth. Rather, a mechanism is required to serve as a conduit into the society for those institutional factors that affect productive behavior such as entrepreneurial activity. Thus, opportunity entrepreneurship is identified as one such mechanism that impacts on economic growth. Using a three-stage least-square method through unbalanced panel data with 43 countries (2004-2012), we find that informal institutions have a higher impact on opportunity entrepreneurship than formal institutions. Variables such as control of corruption, confidence in one's skills and private coverage to obtain credit promote a positive effect of opportunity entrepreneurship on economic growth in all the countries of our sample, and especially in Latin American countries as a homogeneous group. These results suggest additional elements to the theoretical discussion in terms of the importance of institutions such framework to understand determinants and effects of opportunity entrepreneurship. Regarding 2 policy implications, the results also suggest that it could be possible to obtain economic growth encouraging the appropriate institutions in order to increase the entrepreneurship by opportunity.

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Section: Institutions and Opportunity Entrepreneurshipmentioning

confidence: 99%

“…According to Harper (2003), entry decisions are conditional on individual skills as well as on the national economic context. Some skills related to new business creations are powered by the self-confidence of each entrepreneur (van Hemmen et al, 2013).…”

Section: Institutions and Opportunity Entrepreneurshipmentioning

confidence: 99%

Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence

Aparicio

Urbano

Audretsch

2016

Technological Forecasting and Social Change

499

409

View full text Add to dashboard Cite

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“…For entrepreneurship, it is also important that the property rights not only guarantee the status quo but also include the 'find and keep' component, which is essential for the aspects of entrepreneurship related to discovery, innovation and creation of new resources (Harper 2003). Property rights that are well protected help promote entrepreneurship and innovation (Parker 2007: 711).…”

Section: Property Rightsmentioning

confidence: 99%

Size matters: entrepreneurial entry and government

2010

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We explore the country-specific institutional characteristics likely to influence an individual's decision to become an entrepreneur. We focus on the size of the government, on freedom from corruption, and on 'market freedom' defined as a cluster of variables related to protection of property rights and regulation. We test these relationships by combining country-level institutional indicators for 47 countries with working age population survey data taken from the Global Entrepreneurship Monitor. Our results indicate that entrepreneurial entry is inversely related to the size of the government, and more weakly to the extent of corruption. A cluster of institutional indicators representing 'market freedom' is only significant in some specifications. Freedom from corruption is significantly related to entrepreneurial entry, especially when the richest countries are removed from the sample but unlike the size of government, the results on corruption are not confirmed by country-level fixed effects models.

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“…Finally, "Obedience" has been identified as a negative trait. Increased "Obedience" implies less risk taking behavior (Harper, 2003), which, in turn, implies investment in risk-averse transactions. Consequently, greater obedience may have a negative and detrimental impact on financial development.…”

Section: Introductionmentioning

confidence: 99%

Is culture a determinant of financial development?

Dutta

Mukherjee

2012

Applied Economics Letters

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The paper investigates the missing link in the literature -whether informal institutions, or what is known as culture, can affect the level of financial development for a country? Our hypothesis stresses that the cultural dimensions of a country can have an impact on its financial set up. We consider multiple dimensions of culture, identified in the literature by Tabellini, to test our hypothesis. As culture evolve in the form of greater trust, control and other traits, individuals" attitudes towards financial market change, and they engage in greater financial transactions. This, in turn, leads to better financial development. Using quantile estimation technique for a cross-section of 90 countries we find that culture significantly influences the level of financial development. To ensure the robustness of our findings we use Hofstede"s cultural dimension-"uncertainty avoidance index" as an alternative measure for culture. Our results hold for multiple measures of financial development.

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Foundations of Entrepreneurship and Economic Development

Cited by 208 publications

References 279 publications

Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence

Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence

Size matters: entrepreneurial entry and government

Is culture a determinant of financial development?

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