Governmental Support for Entrepreneurship in Spain: An Institutional Approach

Sebastian Aparicio, David Audretsch () and David Urbano ()
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David Audretsch: Indiana University
David Urbano: Universitat Autònoma de Barcelona

Hacienda Pública Española / Review of Public Economics, 2022, vol. 243, issue 4, 29-49

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.

Keywords: Entrepreneurship; Formal institutions; Governmental policies; Public sector; Universities. (search for similar items in EconPapers)
JEL-codes: J68 L26 O3 P48 (search for similar items in EconPapers)
Date: 2022
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