Institutions such as regulations laws norms matter for entrepreneurship and the authors provide an excellent analysis how institutional asymmetries shape the nature and extent of entrepreneurial activity. Entrepreneurship does not occur in a vacuum the institutions which provide the framework for economic activity matter as countries around the world strive for economic growth this book examines how institutional arrangements are critical in fostering entrepreneurship. Institutions and entrepreneurship 183 instrumental and driven by specific agendas in other circumstances institutional entrepreneurship may occur as a result of unintended consequences particularly when groups seize upon unexpected opportunities created by legislative change. Entrepreneurship cannot be the cause of development but rather that the type of entrepreneurship associated with economic development is a consequence of it that is development is caused by the adoption of certain institutions which in turn channel and encourage the entrepreneurial aspect of human action in a direction that spurs economic. Possible causes for the emergence of a culture of entrepreneurship section 5 describes different aspec ts of an entrepreneurial culture and how it can be self perpetuating
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