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Institutional outlook of the entrepreneurial climate in Ghana

Author

Listed:
  • Samuel Adomako
  • Albert Danso
  • Ernest Ampadu

Abstract

Purpose - – Previous scholarly studies on institutions tend to create a sombre picture of institutions by ignoring to examine the antecedents of formal and informal institutions. The purpose of this paper is to overcome this limitation by proposing a conceptual framework of the antecedents of formal and informal institutions of entrepreneurial climate in a less developed market setting. Design/methodology/approach - – This study builds on a comprehensive survey of the literature on institutions by using a synthesis thematic methodology to identified key scholarly studies which have been published in previous theoretical and empirical studies and proposes a conceptual framework of the role of formal and informal institutions in defining entrepreneurial climate in a developing economy’s context. Findings - – The findings of the paper suggest that political factors and economic factors define formal institutions whilst socio-cultural factors define informal institutions. These factors rooted in political, economic and socio-cultural factors have a major influence on the rate and nature of entrepreneurial activity in a developing country setting. Practical implications - – This paper contributes to the literature on entrepreneurship and intuitional theory by focusing on the antecedents of formal and informal institutional factors that shape entrepreneurial climate in Ghana. Originality/value - – To the authors’ knowledge, this is the first review that explores the nature of entrepreneurial climate and proposes a conceptual framework of the role of formal and informal institutions in defining entrepreneurial climate in Ghana.

Suggested Citation

  • Samuel Adomako & Albert Danso & Ernest Ampadu, 2015. "Institutional outlook of the entrepreneurial climate in Ghana," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 42(6), pages 566-582, June.
  • Handle: RePEc:eme:ijsepp:v:42:y:2015:i:6:p:566-582
    DOI: 10.1108/IJSE-09-2013-0206
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    Citations

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    Cited by:

    1. Amankwah-Amoah, Joseph & Hinson, Robert E., 2019. "Contextual influences on new technology ventures: A study of domestic firms in Ghana," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 289-296.
    2. Darma Mahadea & Martin Kabange, 2019. "Influence Of Government Regulations And Institutions On Entrepreneurial Performance In Cameroon," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 24(04), pages 1-17, December.
    3. Amankwah-Amoah, Joseph & Lu, Yindfa, 2018. "Historical Evolution of Entrepreneurial Development in the Global South: The Case of Ghana, 1957-2010," MPRA Paper 88179, University Library of Munich, Germany.
    4. Obi Berko Obeng Damoah & Augustine Awuah Peprah, 2021. "Synthesis of small and medium enterprise research in Ghana," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 451-468, December.

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