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Institutions, Entrepreneurship, and Economic Performance pp 107–129Cite as

Social Progress Orientation, Entrepreneurship and Economic Development

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

Abstract

In this chapter, by using the institutional approach, we examine how social progress orientation through entrepreneurship driven by opportunity affects economic development. Using a pooled data of 81 observations and 56 countries and the three-stage least squares method (3SLS), we provide empirical evidence that social progress orientation measured through civic activism, voluntary spirit, and inclusion of minorities has a positive and significant influence on opportunity entrepreneurship, which in turn, affects economic development as an endogenous factor. These results could encourage new elements in both theoretical and policy discussion. For instance, this chapter advances the literature by providing new insights into the environmental factors that affect entrepreneurial activity, especially that driven by opportunity which affects positively economic development in the light of institutional economics. Also, the research could be useful for designing policies to foster economic development through entrepreneurship in different environments.

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Notes

  1. 1.

    As defined by Hofstede (1980, 2005): “Individualism vs. Collectivism”; “Power Distance”; “Masculinity vs. Femininity”; “Uncertainty Avoidance”; and “Long Term Orientation”.

  2. 2.

    The methodology of these indices is matching percentiles; further details can be found in Foa and Tanner (2012). http://www.indsocdev.org/resources.

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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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Urbano, D., Aparicio, S., Audretsch, D.B. (2019). Social Progress Orientation, Entrepreneurship and Economic Development. In: Institutions, Entrepreneurship, and Economic Performance. International Studies in Entrepreneurship, vol 41. Springer, Cham. https://doi.org/10.1007/978-3-030-13373-3_5

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