Entrepreneurial Behavior and the Development of Trading Institutions: An Analytical Approach

Karen A. Campbell

Journal of Institutional and Theoretical Economics (JITE), 2009, vol. 165, issue 3, 487-507

Abstract: This paper makes explicit the role of the entrepreneur in a consumer-producer economy. Entrepreneurial behavior changes the status quo by altering existing comparative advantages. A positive feedback effect with trading institutions ensues. This model shows how the entrepreneur can, when successful, create economic growth but if unsuccessful, can contribute to an economic contraction. Using our theoretical approach, propositions are generated that explain empirical observations of entrepreneurship. This framework offers a tool for future analytical and empirical investigations into entrepreneurship in a systematic way.

JEL-codes: D01 D49 D61 D81 O12 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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