In the history of economic analysis different variables have been considered to explain the progress of the nations. Traditionally mainly quantitative variables have been considered. During the twentieth century with the introduction of the endogenous growth models and the improvement of the statistical methods and data information, the qualitative variables have been quantified. Examples include: democracy, corruption, rule of law, social capital and entrepreneurship. Such variables now have their quantitative measures that are used in analyzing many economic issues.
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Bahmani-Oskooee, M., Galindo, MÁ., Méndez, M.T. (2009). Social Capital and Entrepreneurship in a Regional Context: The Case of Spanish Regions. In: Galindo, MA., Guzman, J., Ribeiro, D. (eds) Entrepreneurship and Business. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-70902-2_6
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