direction of entrepreneurial activity. Four key institutions are explored more closely: property rights protection, savings … policies, taxation and the regulation of labor markets. Institutions have far-reaching effects on entrepreneurship, and they … entrepreneurship to the institutional setup it is maintained that in-depth analyses of specific institutions are required in order to …

institutions that foster the emergence of competence blocs and the creation of HGFs. In particular, our analysis points to the …. Finally, we characterize institutions beneficial for sclerotic or dynamic capitalism, respectively, depending on whether they …