Innovation and Entrepreneurship in the European Union—A Reform Agenda

Niklas Elert (), Magnus Henrekson () and Mikael Stenkula

Chapter Chapter 3 in Institutional Reform for Innovation and Entrepreneurship, 2017, pp 25-86 from Springer

Abstract: Abstract In this chapter, we discuss the institutions that the previous literature identifies as the most relevant for nurturing the activities of entrepreneurs and other actors in the ecosystem’s skill structure. Overall, we discuss nine areas: (i) the rule of law and the protection of property rights; (ii) the tax system; (iii) regulations governing savings, capital and finance; (iv) the organization of labor markets and social insurance systems; (v) regulations governing goods and service markets; (vi) regulations governing bankruptcy and insolvency; (vii) R&D, commercialization and knowledge spillovers; (viii) human capital investments; and (ix) informal institutions. Although our starting point is that some institutions or institutional forms are simply the most propitious for entrepreneurship and economic growth, we complement this first-best perspective with insights offered by the perspectives discussed in Chap. 2 , and clarify the extent to which policies and institutions interact with and reinforce one another.

Keywords: Bankruptcy law; Employment protection legislation; Financing of entrepreneurship; Human capital; Informal institutions; Knowledge spillovers; Product market regulations; Rule of law; Social insurance; Taxation (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-55092-3_3

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DOI: 10.1007/978-3-319-55092-3_3

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