Does Entrepreneurship Matter for Inclusive Growth? The Role of Social Progress Orientation

Sebastian Aparicio, Audretsch David and Urbano David ()
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Audretsch David: School of Public and Environmental Affairs, Institute for Development Strategies, Indiana University, Bloomington, IN, USA
Urbano David: Department of Business, Centre for Entrepreneurship and Social Innovation Research (CREIS), Universität Autònoma de Barcelona, Cerdanyola del Vallès (Barcelona), Spain

Entrepreneurship Research Journal, 2021, vol. 11, issue 4, 29

Abstract: 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.

Keywords: entrepreneurship; inclusive growth; social progress orientation; institutional economics (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1515/erj-2019-0308

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