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AN INSTITUTIONAL APPROACH OF THE BUSINESS ENVIRONMENT QUALITY. A COMPARATIVE ANALISYS

Marius-Cristian Pana, Gabriel Staicu () and Cosmin Marinescu

Revista Economica, 2012, vol. Supplement, issue 1, 603-607

Abstract: Especially in the last decade there is a tendency in the academia to acknowledge that the incentives derived from social institutions strongly influence the quality of entrepreneurial activity. Therefore, depending on the institutional framework that governs our society, the entrepreneurial efforts might be oriented towards productive market activities or towards rent seeking activities. The aim of this paper is to explain the way in which institutional framework determine alternative patterns of entrepreneurial activity and economic progress. We use valuable and trustful empirical evidence to illustrate the inextricable relationship between institutions, entrepreneurship and economic performance.

Date: 2012
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