Governmental Support for Entrepreneurship in Spain: An Institutional Approach

Sebastián Aparicio · David Bruce Audretsch · David Urbano

9 citations0/0 files storedRevista Hacienda Pública Española

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Entrepreneurship Studies and Influences Firm Innovation and Growth Innovation Policy and R&D

Abstract

Institutions have acted as rules of the game influencing entrepreneurship. However, little is known about their complementary function as knowledge generators. Drawing on institutional economics, this paper explores the role of regional governments and universities in creating public support and knowledge conducive to entrepreneurship in Spain. Unbalanced panel data models are applied to 281 observations taken from GEM; Ministry of Economics, Industry, and Competitiveness; and INE in the 2004-2018 period. Findings suggest that formal institutions as R&D expenditure and staff in the public sector and universities positively predict entrepreneurship. In light of these results, theory and policies are discussed.

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References

1990Institutions, Institutional Change and Economic Performance 2000The New Institutional Economics: Taking Stock, Looking Ahead 1996Entrepreneurship: Productive, unproductive, and destructive 2011Contextualizing Entrepreneurship—Conceptual Challenges and Ways Forward 2010Institutional Theory and Entrepreneurship: Where Are We Now and Where Do We Need to Move in the Future?2009Why encouraging more people to become entrepreneurs is bad public policy 2005Nascent Entrepreneurship and the Level of Economic Development 2007Nascent entrepreneurship and the level of economic development

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