Entrepreneurial Dynamics and Higher Education Institutions: Evidence from the Post-Communist World

Maksim Belitski, Julia Korosteleva and Julia Korosteleva

No 120, UCL SSEES Economics and Business working paper series from UCL School of Slavonic and East European Studies (SSEES)

Abstract: Drawing on the institutional and regional entrepreneurship literature this study develops a conceptual framework to analyse the impact of higher education institutions on entrepreneurial dynamics across the cities of the Commonwealth of Independent States (CIS) during 1995-2008. Extending upon Scott (1995) and Stenholm's (2011) multi-pillar institutional concept, we posit that higher education institutions may influence entrepreneurial dynamics through various channels such as (1) the human capital development; (2) shaping a system of societal values and norms which cultivate a positive attitude towards entrepreneurship; (3) affecting perceptions of the knowledge and skills necessary to start up a business; and (4) knowledge spillovers. The empirical counterpart of this study utilizes a unique dataset to study education institutions as a driving force behind the growth in stock of small businesses, employing the System Generalised Method of Moments technique. We show that while formally constructed within the regulative pillar and mandated by national laws on education, higher education institutions are embedded in the other three pillars, notably normative, cognitive and conducive, to foster entrepreneurial dynamics. This embeddedness of higher education institutions within all four institutional pillars and their ability to affect entrepreneurial dynamics through these multiple institutional dimensions means they play an important role in explaining entrepreneurial dynamics in the region.

Keywords: Entrepreneurial dynamics; SMEs; regional entrepreneurship; higher education institutions; CIS cities (search for similar items in EconPapers)
Date: 2012-11
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Persistent link: https://EconPapers.repec.org/RePEc:see:wpaper:120

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