Context Matters: Institutions and Entrepreneurship

77 Pages Posted: 16 Jun 2010

See all articles by Peter J. Boettke

Peter J. Boettke

George Mason University - Department of Economics

Christopher J. Coyne

George Mason University - Department of Economics

Date Written: 2009

Abstract

This survey explores the important connection between institutions and entrepreneurship. Institutions consist of the formal and informal ‘rules of the game.’ Entrepreneurs act within a context determined by these rules. The rules of the game create payoffs that make certain entrepreneurial opportunities more attractive than others. We explore the relevant literature from institutional economics and entrepreneurial studies, focusing on the important link between the two. Particular emphasis is placed on entrepreneurship within several different institutional settings - private for-profit, private non-profit and political - as well as the impact of entrepreneurship on institutions. We conclude by discussing the implications for future research on the topic.

Keywords: Institutional Economics, Social Entrepreneurship, Political Entrepreneurship

Suggested Citation

Boettke, Peter J. and Coyne, Christopher J., Context Matters: Institutions and Entrepreneurship (2009). Foundations and Trends in Entrepreneurship Vol. 5, No. 3, pp. 135-209, 2009. Available at SSRN: https://ssrn.com/abstract=1625350

Peter J. Boettke (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

Christopher J. Coyne

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

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