The aim of this paper is to analyze the difference between the rates of potential entrepreneurship and actual entrepreneurship in European and American context, trying to identify some of the explanatory factors. For this purpose an institutional approach is used, which includes the role of...

Institutions take essential roles in the organization of social life. Ranging from institutionalized informal practices to strict laws and regulations and various public and private organizations, institutions have diffused to day- to- day activities. In this way they do not only regulate social...