Institutions and Entrepreneurship: Pushing the Boundaries
New institutional economics (NIE) and Austrian economics (AE) both emphasize the role that institutions play in facilitating or impeding entrepreneurship and hence economic growth. In this paper, we discuss the complementarities between AE and NIE for advancing our understanding of the relationship...
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| Veröffentlicht in: | Quarterly journal of Austrian economics 2020-09, Vol.23 (3-4), p.1-23 |
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| container_title | Quarterly journal of Austrian economics |
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| creator | Burns, Scott Fuller, Caleb |
| description | New institutional economics (NIE) and Austrian economics (AE) both emphasize the role that institutions play in facilitating or impeding entrepreneurship and hence economic growth. In this paper, we discuss the complementarities between AE and NIE for advancing our understanding of the relationship between institutions and entrepreneurship. We argue that a subjectivist view of institutions, entrepreneurial microfoundations, and capital heterogeneity can enrich our understanding of within-country variation in entrepreneurial strategies, institutional evolution, and the relationship between institutions and production processes. We hope our discussion serves as an invitation both for further theoretical collaboration between the two camps and as a spur to applied research at the intersection of institutions and entrepreneurship. |
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| ispartof | Quarterly journal of Austrian economics, 2020-09, Vol.23 (3-4), p.1-23 |
| issn | 1098-3708 1936-4806 |
| language | eng |
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| source | DOAJ Directory of Open Access Journals; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; EBSCOhost Business Source Complete |
| subjects | Classification Collaboration Economic growth Economics Entrepreneurs Entrepreneurship Equilibrium Knowledge Market economies Neoclassical economics Profits Traditions |
| title | Institutions and Entrepreneurship: Pushing the Boundaries |
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