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National institutions and the allocation of entrepreneurial effort

Author

Listed:
  • Bowen, Harry P.
  • De Clercq, D.

    (Vlerick Leuven Gent Management School)

Abstract

This paper examines how the allocation of entrepreneurial effort within a country is influenced by the country’s institutional environment. We hypothesize that the likelihood that entrepreneurs launch a growth-oriented start-up is associated with the institutional environment in which entrepreneurs are embedded. We test our hypothesis using data on 44 countries over the three-year period from 2002 to 2004. The data are drawn from two sources: the Global Entrepreneurship Monitor and the World Economic Forum’s Executive Opinion Survey. Our findings indicate that the likelihood of a growth-oriented start-up is positively related to a country’s level of human capital targeted at entrepreneurship and the level of regulatory protection, but is negatively related to the extent of corruption and mistrust in public officials.

Suggested Citation

  • Bowen, Harry P. & De Clercq, D., 2005. "National institutions and the allocation of entrepreneurial effort," Vlerick Leuven Gent Management School Working Paper Series 2005-15, Vlerick Leuven Gent Management School.
    • Handle: RePEc:vlg:vlgwps:2005-15
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    More about this item

    Keywords

    institutions; entrepreneurship; resource; allocation;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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