TY - JOUR
T1 - Does Entrepreneurship Matter for Inclusive Growth? The Role of Social Progress Orientation
AU - Aparicio, Sebastian
AU - Audretsch, David
AU - Urbano, David
N1 - Funding Information:
The authors acknowledge Prof. Mat Hughes and anonymous reviewers for valuable comments and suggestions. In addition, Sebastian Aparicio acknowledges Durham University Business School for constant support. Additionally, Sebastian acknowledges COLCIENCIAS Ph.D. programme (617/2013), as well as Sapiencia-Enlaza Mundos (Municipio de Medellín) for financial support during Ph.D. studies. David Urbano acknowledges the financial support from project ECO2017-87885-P (Spanish Ministry of Economy & Competitiveness), 2017-SGR-1056 (Economy & Knowledge Department, Catalan Government), and ICREA under ICREA Academia programme.
Publisher Copyright:
© 2020 Walter de Gruyter GmbH, Berlin/Boston 2020.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2020
Y1 - 2020
N2 - Building upon institutional economics, we examine how social progress orientation (SPO) affects inclusive growth through innovative and opportunity entrepreneurship. Hypotheses about civic activism, voluntary spirit, and the inclusion of minorities as proxies of SPO that affect entrepreneurship directly and inclusive growth indirectly have been suggested. Using unbalanced panel data of 132 observations (63 countries) and the three-stage least-squares method (3SLS), we provide empirical evidence that these three measures of SPO significantly affect innovative and opportunity entrepreneurship. Interestingly, our endogenous measures of entrepreneurial activity have served to explain inclusive growth, which is observed through poverty reduction across countries. Public policies should focus on social values oriented to progress in order to stimulate valuable entrepreneurial activity and hence facilitate economic development that also embraces vulnerable communities.
AB - Building upon institutional economics, we examine how social progress orientation (SPO) affects inclusive growth through innovative and opportunity entrepreneurship. Hypotheses about civic activism, voluntary spirit, and the inclusion of minorities as proxies of SPO that affect entrepreneurship directly and inclusive growth indirectly have been suggested. Using unbalanced panel data of 132 observations (63 countries) and the three-stage least-squares method (3SLS), we provide empirical evidence that these three measures of SPO significantly affect innovative and opportunity entrepreneurship. Interestingly, our endogenous measures of entrepreneurial activity have served to explain inclusive growth, which is observed through poverty reduction across countries. Public policies should focus on social values oriented to progress in order to stimulate valuable entrepreneurial activity and hence facilitate economic development that also embraces vulnerable communities.
KW - entrepreneurship
KW - inclusive growth
KW - institutional economics
KW - social progress orientation
UR - http://www.scopus.com/inward/record.url?scp=85081537881&partnerID=8YFLogxK
U2 - 10.1515/erj-2019-0308
DO - 10.1515/erj-2019-0308
M3 - Artículo
AN - SCOPUS:85081537881
JO - Entrepreneurship Research Journal
JF - Entrepreneurship Research Journal
SN - 2194-6175
M1 - 2019-0308
ER -