O2 Muu julkaisu
Institutions and the Rate of Formal and Informal Entrepreneurship across Countries
Tekijät: Acs Zoltan J, Desai Sameeksha, Stenholm Pekka, Wuebker Robert
Julkaisuvuosi: 2013
Tiivistelmä
In spite of growing scholarly interest in what can broadly be called the institutions-entrepreneurship nexus, the relationship between institutions and the entrepreneur’s choice to participate in the formal or informal economy remains unaddressed. This paper provides insight into this question by empirically examining examine the effects of three classes of institutions (regulatory, cognitive and normative) on rates of formal and informal entrepreneurial activity across countries. We test our hypotheses on a sample of 62 countries in the time period 2004–2009. We advance the extant literature by extending the theoretical framework to examine normative and cognitive institutions along with regulatory institutions and by providing first insights on institutional drivers of informal entrepreneurship across countries. Our results demonstrate that the effects of institutions are highly nuanced; the same institutional arrangements can exert opposing effects on formal and informal entrepreneurship.
In spite of growing scholarly interest in what can broadly be called the institutions-entrepreneurship nexus, the relationship between institutions and the entrepreneur’s choice to participate in the formal or informal economy remains unaddressed. This paper provides insight into this question by empirically examining examine the effects of three classes of institutions (regulatory, cognitive and normative) on rates of formal and informal entrepreneurial activity across countries. We test our hypotheses on a sample of 62 countries in the time period 2004–2009. We advance the extant literature by extending the theoretical framework to examine normative and cognitive institutions along with regulatory institutions and by providing first insights on institutional drivers of informal entrepreneurship across countries. Our results demonstrate that the effects of institutions are highly nuanced; the same institutional arrangements can exert opposing effects on formal and informal entrepreneurship.
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