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Institutions, Entrepreneurship, and Economic Performance pp 15–56Cite as

Institutional Antecedents of Entrepreneurship and Its Consequences on Economic Growth: A Systematic Literature Analysis

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Part of the book series: International Studies in Entrepreneurship ((ISEN,volume 41))

Abstract

Through synthesizing disparate strands of literature over the period 1992–2016, this chapter identifies past and current research about the institutional context shaping entrepreneurial activity and its effect on economic growth. This conjoint analysis reveals two important research lines in entrepreneurship research, which have been devoted to explore the institutional antecedents and consequences of entrepreneurial activity. Our findings try to reveal a broader comprehension of these two separate lines, providing an analysis of the interaction between institutions, entrepreneurship and economic growth. The systematic literature review suggests that institutions could be related to economic growth through entrepreneurial activity, which would open new research questions about what institutional factors encourage entrepreneurship rates in order to achieve economic growth. Possible theoretical implications may be discussed not only in terms of the importance of entrepreneurship, such a key element in economic growth, but also in terms of economic development, such a complex process in which entrepreneurial activity, influenced by institutions, is involved.

Another version of this chapter has been published in Urbano, D., Aparicio, S., & Audretsch, D. (2018). Twenty-five years of research on institutions, entrepreneurship, and economic growth: What has been learned? Small Business Economics. In Press, https://doi.org/10.1007/s11187-018-0038-0.

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Notes

  1. 1.

    It is important to highlight that we only focus on articles dealing with a country’s or region’s gross domestic product (GDP—total or per capita) or GDP growth, as well as labor productivity or total factor productivity (TFP) (van Praag & Versloot, 2007).

  2. 2.

    In this chapter, we use indistinctively institutional approach, institutional perspective, institutional theory, institutional economics and institutional economic theory.

  3. 3.

    Apart from the institutional and economic approaches considered in this article, perspectives that involve psychological (Collins et al., 1964; McClelland, 1961; Krueger, 1993; Krueger and Brazeal, 1994; Shepherd, 2015; among others) and organizational (Alvarez & Busenitz, 2001; Barney, 1991; Barney, Wright, & Ketchen, 2001; Chesbrough, 2003, 2006; Leih & Teece, 2016; Teece, Pisano, & Shuen, 1997; Teece, 2007; among others) approaches are also used in our field of research. However, some studies are starting to consider another level of analysis, just between the organization and the environment; this type of analysis, the entrepreneurship-innovation ecosystems approach, mainly focuses on clusters, business-innovation, or industry (Isenberg, 2010; Mason & Brown, 2014, among others).

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Authors and Affiliations

  1. Department of Business, Universitat Autònoma de Barcelona, Bellaterra, Barcelona, Spain

    David Urbano

  2. Durham University Business School, Durham University, Durham, UK

    Sebastian Aparicio

  3. Institute for Development Strategies, School of Public and Environmental Affairs, Indiana University, Bloomington, IN, USA

    David B. Audretsch

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  1. David Urbano
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  2. Sebastian Aparicio
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  3. David B. Audretsch
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Urbano, D., Aparicio, S., Audretsch, D.B. (2019). Institutional Antecedents of Entrepreneurship and Its Consequences on Economic Growth: A Systematic Literature Analysis. In: Institutions, Entrepreneurship, and Economic Performance. International Studies in Entrepreneurship, vol 41. Springer, Cham. https://doi.org/10.1007/978-3-030-13373-3_2

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