Abstract
Differentiating various types of entrepreneurs provides clues to the puzzle of why vertical or top-down policies often fail to create Schumpeterian entrepreneurship and the ecosystems where it thrives. Schumpeterian entrepreneurship is intrinsically contrarian, whereas public policy has a bias toward incremental innovation and replication of past success. If central planners knew what the next radical innovation would be, there would be no need for Schumpeterian entrepreneurs. Schumpeterian entrepreneurs create not only companies but also institutions in the entrepreneurial support system. These ever-evolving structures are too complex to design, and central planning instead reduces the space for organic institutional innovation.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
Data availability statement
Data sharing is not applicable as no datasets were generated or analyzed in the current study.
Notes
In their meta-analysis of a large number of studies Grashof and Fornahl (2021) report that a negative firm-specific cluster effect occurs more frequently in low-tech industries. This is to be expected. Tacit knowledge is likely to be more important in high-tech industries and the negative factors of being located in a cluster—higher cost of land and of all kinds of labor—are more likely to outweigh the positive factors in low-tech industries. Moreover, Grashof and Fornahl compare existing firms, which were started, survived, and possibly thrived. This is partly because they evolved in an environment that was beneficial for them. Thus, whether a firm is located in a cluster is endogenous. By contrast, our claim is that policies that facilitate the spontaneous emergence of dynamic clusters are more likely to indirectly spur the emergence of Schumpeterian firms.
Ebner (2005) traces this concept of entrepreneurship to the Austrian economist Friedrich von Wieser, who viewed entrepreneurs as pioneers who opened new paths through entrepreneurial leadership.
For an introduction to the by now fairly voluminous literature on institutional entrepreneurship, the reader is referred to the collection of articles in Henrekson and Sanandaji (2012).
References
Acs ZJ (2010) High-impact entrepreneurship. In: Acs ZJ, Audretsch DB (eds) Handbook of Entrepreneurship Research. Springer, New York, NY, pp 165–182
Acs ZJ, Åstebro T, Audretsch D, Robinson DT (2016) Public policy to promote entrepreneurship: a call to arms. Small Bus Econ 47(1):35–51. https://doi.org/10.1007/s11187-016-9712-2
Acemoglu D, Robinson JA (2019) The Narrow Corridor: How Nations Struggle for Liberty. Princeton University Press, Princeton, NJ
Aghion P, Festré A (2017) Schumpeterian growth theory, Schumpeter, and growth policy design. J Evol Econ 27(1):25–42. https://doi.org/10.1007/s00191-016-0465-5
Ahokangas P, Boter H, Iivari M (2018) Ecosystems perspective on entrepreneurship. In: Turcan RV, Fraser RV (eds) The Palgrave Handbook of Multidisciplinary Perspectives on Entrepreneurship. Palgrave Macmillan, Cham, pp 387–407. https://doi.org/10.1007/978-3-319-91611-8_18
Akerlof GA (1970) The market for ‘lemons’: quality uncertainty and the market mechanism. Quart J Econ 84(3):488–500. https://doi.org/10.2307/1879431
Alvarez SA, Barney JB (2007) Discovery and creation: alternative theories of entrepreneurial action. Strateg Entrepreneurship J 1(1–2):11–26. https://doi.org/10.1002/sej.4
Andersson M, Henrekson M (2015) Local competitiveness fostered through local institutions for Entrepreneurship. In: Audretsch DB, Link AN, Walshok M (eds) Oxford Handbook of Local Competitiveness. Oxford University Press, Oxford, pp 145–190. https://doi.org/10.1093/oxfordhb/9780199993307.013.8
Arrow KJ (1962) Economic welfare and the allocation of resources for invention. The Rate and Direction of Inventive Activity: Economic and Social Factors. A Report of the National Bureau of Economic Research. Princeton University Press, New York, pp 609–626
Audretsch DB, Feldman M (1996) R&D spillovers and the geography of innovation and production. Am Econ Rev 86(3):630–640. https://www.jstor.org/stable/2118216
Audretsch DB, Lehmann EE, Menter M, Seitz N (2019) Public cluster policy and firm performance: evaluating spillover effects across industries. Entrepreneurship & Regional Development 31(1–2):150–165. https://doi.org/10.1080/08985626.2018.1537153
Auerswald PE (2015) Enabling entrepreneurial ecosystems: insights from ecology to inform effective entrepreneurship policy. Kauffman Foundation Research Series on City, Metro, and Regional Entrepreneurship, October 2015. https://doi.org/10.2139/ssrn.2673843
Autio E (2016) Entrepreneurship support in Europe: trends and challenges. Technical report. Imperial College, London
Autio E, Levie J (2017) Management of entrepreneurial ecosystems. In: Ahmetoglu G, Chamorro-Premuzic T, Klinger B, Karcisky T (eds) The Wiley Handbook of Entrepreneurship. John Wiley & Sons, Chichester and Hoboken, NJ, pp 423–450
Autio E, Rannikko H (2016) Retaining winners: can policy boost high-growth entrepreneurship? Res Policy 45(1):42–55. https://doi.org/10.1016/j.respol.2015.06.002
Banerjee A, Duflo E, Munshi K (2003) The misallocation of capital. J Eur Econ Assoc 1(2–3):484–494. https://www.jstor.org/stable/40005198
Baumol WJ (1990) Entrepreneurship: productive, unproductive, and destructive. J Polit Econ 98(5):893–921. https://www.jstor.org/stable/2937617
Bergh A (2020) Hayekian welfare states: explaining the coexistence of economic freedom and big government. J Institutional Econ 16(1):1–12. https://doi.org/10.1017/S1744137419000432
Bergh A, Henrekson M (2011) Government size and growth: a survey and interpretation of the evidence. J Economic Surveys 25(5):872–897. https://doi.org/10.1111/j.1467-6419.2011.00697.x
Besley T, Persson T (2011) Pillars of Prosperity: The Political Economics of Development Clusters (1st edition). Princeton University Press, Princeton, NJ
Block JH, Fisch CO, van Praag M (2017) The Schumpeterian entrepreneur: a review of the empirical evidence on the antecedents, behaviour and consequences of innovative entrepreneurship. Ind Innovat 24(1):61–95. https://doi.org/10.1080/13662716.2016.1216397
Bloom N, Jones CI, Van Reenen J, Webb M (2020) Are ideas getting harder to find? Am Econ Rev 110(4):1104–1144. https://doi.org/10.1257/aer.20180338
Bonini S (2012) The development of venture capital: macroeconomic, political, and legal determinants. In: Cumming D (ed) The Oxford Handbook of Venture Capital. Oxford University Press, New York, NY and Oxford, pp 824–863
Bradley SW, Klein P (2016) Institutions, economic freedom, and entrepreneurship: the contribution of management scholarship. Acad Manage Perspect 30(3):211–221. https://doi.org/10.5465/amp.2013.0137
Bradley SW, Wiklund J, Shepherd DA (2011) Swinging a double-edged sword: the effect of slack on entrepreneurial management and growth. J Bus Ventur 26(5):537–554. https://doi.org/10.1016/j.jbusvent.2010.03.002
Buchanan JM (1975) A contractarian paradigm for applying economic theory. Am Econ Rev 65(2):225–230. https://www.jstor.org/stable/1818857
Buchanan JM, Tullock G (1962) The Calculus of Consent: Logical Foundations of Constitutional Democracy. University of Michigan Press, Ann Arbor, MI
Carpenter D, Moss DA (2013) Preventing Regulatory Capture: Special Interest Influence and How to Limit It. Cambridge University Press, Cambridge
Coad A, Daunfeldt S-O, Hölzl W, Johansson D, Nightingale P (2014) High-growth firms: introduction to the special section. Ind Corp Change 23(1):91–112. https://doi.org/10.1093/icc/dtt052
Criscuolo C, Martin R, Overman HG, Van Reenen J (2019) Some causal effects of an industrial policy. Am Econ Rev 109(1):48–85. https://doi.org/10.1257/aer.20160034
Cumming DJ (2005) Agency costs, institutions, learning, and taxation in venture capital contracting. J Bus Ventur 20(5):573–622. https://doi.org/10.1016/j.jbusvent.2003.07.001
Cumming DJ, Johan S (2010) Phasing out an inefficient venture capital tax credit. J Ind Competition Trade 10(3–4):227–252. https://doi.org/10.1007/s10842-010-0080-3
Cumming DJ, Schmidt D, Walz U (2010) Legality and venture capital governance around the world. J Bus Ventur 25(1):54–72. https://doi.org/10.1016/j.jbusvent.2008.07.001
Dalziel M (2018) Why are there (almost) no randomised controlled trial-based evaluations of business support programmes? Palgrave Commun 4(1):12. https://doi.org/10.1057/s41599-018-0069-9
Desrochers P (2001) Geographical proximity and the transmission of tacit knowledge. Review of Austrian Economics 14(1):25–46. https://doi.org/10.1023/A:1007803520748
Dur R (2001) Why do policy makers stick to inefficient decisions? Public Choice 107(3):221–234. https://doi.org/10.1023/A:1010305204751
Ebner A (2005) Hayek on entrepreneurship: competition, market process and cultural evolution. In: Backhaus JG (ed) Entrepreneurship, Money and Coordination: Hayek’s Theory of Cultural Evolution. Edward Elgar, Cheltenham and Northampton, MA, pp 131–149
Elert N, Henrekson M (2017) Entrepreneurship and institutions: a bidirectional relationship. Found Trends Entrepreneurship 13(3):191–263. https://doi.org/10.1561/0300000073
Elert N, Henrekson M (2019) The collaborative innovation bloc: a new mission for Austrian economics. Rev Austrian Econ 32(4):295–320. https://doi.org/10.1007/s11138-019-00455-y
Elert N, Henrekson M (2021) Innovative entrepreneurship as a collaborative effort: an institutional framework. Found Trends Entrepreneurship 17(4):329–434. https://doi.org/10.1561/0300000098
Encaoua D, Hollander A (2002) Competition policy and innovation. Oxf Rev Econ Policy 18(1):63–79. https://doi.org/10.1093/oxrep/18.1.63
Evans AJ (2016) The unintended consequences of easy money: how access to finance impedes entrepreneurship. Rev Austrian Econ 29(3):233–252. https://doi.org/10.1007/s11138-015-0322-z
Färnstrand Damsgaard E, Hjertstrand P, Norbäck P-J, Persson L, Vasconcelos H (2017) Why entrepreneurs choose risky R&D projects – but still not risky enough. Econ J 127(605):164–199. https://doi.org/10.1111/ecoj.12470
Foss K, Foss NJ, Klein PG (2007) Original and derived judgment: an entrepreneurial theory of economic organization. Organ Stud 28(12):1893–1912. https://doi.org/10.1177/0170840606076179
Foss NJ, Klein PG (2010) Entrepreneurial alertness and opportunity discovery: origins, attributes, critique. In: Landström H, Lohrke F (eds) Historical Foundations of Entrepreneurship Research. Edward Elgar, Cheltenham and Northampton, MA, pp 98–120
George G (2005) Slack resources and the performance of privately held firms. Acad Manag J 48(4):661–676. https://doi.org/10.2307/20159685
Gilson RJ, Schizer DM (2003) Understanding venture capital structure: a tax explanation for convertible preferred stock. Harv Law Rev 116(3):874–916
Glaeser EL (2011) Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier and Happier. Penguin Press, New York, NY
Glaeser EL, Kerr WR, Ponzetto G (2010) Clusters of entrepreneurship. J Urban Econ 67(1):150–168. https://doi.org/10.1016/j.jue.2009.09.008
Glaeser EL, Tobio K (2008) The rise of the Sunbelt. South Econ J 74(3):610–643. https://doi.org/10.2139/ssrn.982392
Gompers PA, Lerner J (2001) The Money of Invention: How Venture Capital Creates New Wealth. Harvard Business School Press, Cambridge, MA
Grashof N, Fornahl D (2021) “To be or not to be” located in a cluster?—A descriptive meta-analysis of the firm-specific cluster effect. Annals of Regional Science 67(3):541–591. https://doi.org/10.1007/s00168-021-01057-y
Gustafsson A, Gustavsson Tingvall P, Halvarsson D (2020) Subsidy entrepreneurs: an inquiry into firms seeking public grants. J Ind Competition Trade 20(3):439–478. https://doi.org/10.1007/s10842-019-00317-0
Hall BH (2002) The financing of research and development. Oxf Rev Econ Policy 18(1):35–51. https://doi.org/10.1093/oxrep/18.1.35
Haltiwanger J, Jarmin RS, Miranda J (2013) Who creates jobs? Small versus large versus young. Rev Econ Stat 95(2):347–361. https://doi.org/10.1162/REST_a_00288
Hassler J, Krusell P, Nycander J (2016) Climate policy. Economic Policy 31(87):503–558. https://doi.org/10.1093/epolic/eiw007
Hayek FA (1944) The Road to Serfdom. University of Chicago Press, Chicago, IL
Hayek FA (1945) The use of knowledge in society. Am Econ Rev 35(4):519–530. http://www.jstor.org/stable/1809376
Hayek FA (1973) Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy (Vol I). University of Chicago Press, Chicago, IL
Hayek FA (1976) Law, Legislation and Liberty (Vol 2). University of Chicago Press, Chicago, IL
Hayek FA (1978) New Studies in Philosophy, Politics, Economics and the History of Ideas. Routledge & Keagan Paul, London
Hayek FA (1979) Law, Legislation and Liberty (Vol 3). University of Chicago Press, Chicago, IL
Hébert RF, Link AN (2006) The entrepreneur as innovator. J Technol Transfer 31(5):589–597. https://doi.org/10.1007/s10961-006-9060-5
Hekkert MP, Janssen MJ, Wesseling JG, Negro SO (2020) Mission-oriented innovation systems. Environ Innov Societal Transitions 34(March):76–79. https://doi.org/10.1016/j.eist.2019.11.011
Henrekson M, Sanandaji T (2011) The interaction of entrepreneurship and institutions. J Institutional Econ 7(1):47–75. https://doi.org/10.1017/S1744137410000342
Henrekson M, Sanandaji T (eds) (2012) Institutional Entrepreneurship. The International Library of Entrepreneurship Series, vol 35. Edward Elgar, Cheltenham and Northampton, MA
Henrekson M, Sanandaji T (2018a) Stock option taxation: a missing piece in European innovation policy? Small Bus Econ 51(2):411–424. https://doi.org/10.1007/s11187-018-0008-6
Henrekson M, Sanandaji T (2018b) Stock option taxation and venture capital activity: a cross-country study. Venture Capital 20(1):51–71. https://doi.org/10.1080/13691066.2017.1400159
Henrekson M, Sanandaji T (2020) Measuring Schumpeterian entrepreneurship: do established metrics capture high-impact Schumpeterian entrepreneurship. Entrepreneurship Theory and Practice 44(4):733–760. https://doi.org/10.1177/1042258719844500
Hölzl W (2010) The economics of entrepreneurship policy: introduction to the special issue. J Ind Competition Trade 10(3–4):187–197. https://doi.org/10.1007/s10842-010-0088-8
Hospers G-J, Desrochers P, Sautet F (2008) The next Silicon Valley? On the relationship between geographical clustering and public policy. Int Entrepreneurship Manage J 5(3):285–299. https://doi.org/10.1007/s11365-008-0080-5
Howell ST (2017) Financing innovation: evidence from R&D grants. Am Econ Rev 107(4):1136–1164. https://doi.org/10.1257/aer.20150808
Isenberg D (2010) The big idea: how to start an entrepreneurial revolution. Harvard Business Review, June 2010. https://hbr.org/2010/06/the-big-idea-how-to-start-an-entrepreneurial-revolution
Isenberg D (2011a) Everything you know about Silicon Valley might me wrong. Harvard Business Review, 31 August. https://hbr.org/2011/08/everything-you-know-about-sili
Isenberg D (2011b) The entrepreneurship ecosystem strategy as a new paradigm for economic policy: principles for cultivating entrepreneurship. The Babson Entrepreneurship Ecosystem Project. Presentation at the Institute of International and European Affairs, Dublin
Johnson S, Kwak J (2011) 13 Bankers: The Wall Street Takeover and the next Financial Meltdown. Vintage, New York, NY
Kaplan SN, Strömberg P (2003) Financial contracting theory meets the real world: an empirical analysis of venture capital contracts. Rev Econ Stud 70(2):281–315. https://doi.org/10.1111/1467-937X.00245
Kärnä A, Karlsson J, Svensson P, Engberg E (2020) Political failures in innovation policy: a cautionary note. SSRN Sch Paper ID 3593332. https://doi.org/10.2139/ssrn.3593332
Kirzner IM (1973) Competition and Entrepreneurship. University of Chicago Press, Chicago, IL
Kirzner IM (1997) Entrepreneurial discovery and the competitive market process: an Austrian approach. J Econ Lit 35(1):60–85
Klepper S (2016) Experimental Capitalism: The Nanoeconomics of American High-Tech Industries. Princeton University Press, Princeton, NJ
Knight FH (1921) Risk, Uncertainty and Profit. Houghton Mifflin, Boston, MA
Koppl R (2008) Computable entrepreneurship. Entrepreneurship Theory and Practice 32(5):919–926. https://doi.org/10.1111/j.1540-6520.2008.00262.x
Kuchař P (2016) Entrepreneurship and institutional change. J Evol Econ 26(2):349–379. https://doi.org/10.1007/s00191-015-0433-5
La Porta R, Lopez-de-Silanes F, Shleifer A, Vishny RW (1998) Law and finance. J Polit Econ 106(6):1113–1155. https://www.journals.uchicago.edu/doi/10.1086/250042
Lerner J (2009) Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed—and What to Do About It. Princeton University Press, Princeton, NJ, and Oxford
Link A, Sarala R (2019) Advancing conceptualization of university entrepreneurship ecosystems: the role of knowledge-based entrepreneurial firms. UNCG Economics Working Papers 19-1, Department of Economics, University of North Carolina at Greensboro, NC
Lucas DS, Fuller CS, Piano EE, Coyne CJ (2018) Visions of entrepreneurship policy. J Entrepreneurship Public Policy 7(4):336–356. https://doi.org/10.1108/JEPP-D-18-00034
Mann J, Loveridge S, Miller S (2015) Firm specialization in R&D Grants: implications on SBIR Program Impacts. Working Paper, Michigan State University, East Lansing, MI
Marshall A (1890) Principles of Economics. Macmillan, London
Mason C, Brown R (2014) Entrepreneurial ecosystems and growth-oriented entrepreneurship. Background paper prepared for the workshop organized by the OECD LEED Programme and the Dutch Ministry of Economic Affairs, The Hague, 7 November 2013. Final Version, January 2014
Mazzucato M (2013) The Entrepreneurial State: Debunking Public vs. Private Sector Myths. Anthem Press, New York, NY
Mazzucato M (2016) From market fixing to market-creating: a new framework for innovation policy. Ind Innovat 23(2):140–156. https://doi.org/10.1080/13662716.2016.1146124
Mazzucato M (2018) Mission-oriented innovation policies: challenges and opportunities. Ind Corp Change 27(5):803–815. https://doi.org/10.1093/icc/dty034
McCraw TK (2007) Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Belknap Press, Cambridge, MA
Meager N, Bates P, Cowling M (2003) An evaluation of business start-up support for young people. Natl Inst Econ Rev 186(1):59–72. https://doi.org/10.1177/002795010300100111
Moretti E (2021) The effect of high-tech clusters on the productivity of top inventors. Am Econ Rev 111(10):3328–3375. https://www.aeaweb.org/articles?id=10.1257/aer.20191277
Nordhaus WD (2004) Schumpeterian profits in the American economy: theory and measurement. Working Paper No. 10433. National Bureau of Economic Research, Cambridge, MA. https://doi.org/10.3386/w10433
OECD (2015) OECD Innovation Strategy 2015: An Agenda for Policy Action. OECD Publishing, Paris
Olson M (1965) The Logic of Collective Action. Public Goods and the Theory of Groups. Harvard University Press, Cambridge, MA
Ostrom E (1990) Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge University Press, Cambridge
Ostrom E (2005) Policies that crowd out reciprocity and collective action. In: Gintis H, Bowles H, Boyd R, Fehr E (eds) Moral Sentiments and Material Interests: The Foundations of Cooperation in Economic Life. MIT Press, Cambridge, MA, pp 253–275
Ostrom E, Hess C (2007) A framework for analyzing the knowledge commons. In: Hess C, Ostrom E (eds) Understanding Knowledge as a Commons: From Theory to Practice. MIT Press, Cambridge, MA, pp 41–81
Peltzman S (1976) Toward a more general theory of regulation. J Law Econ 19(2):211–240. https://www.jstor.org/stable/725163
Porter ME (1998) Clusters and the new economics of competition. Harvard Business Review, November–December 1998. https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
Potts J (2018) Governing the innovation commons. J Institutional Econ 14(6):1025–1047. https://doi.org/10.1017/S1744137417000479
Potts J (2019) Innovation Commons: The Origin of Economic Growth. Oxford University Press, Oxford
Rodrik D (2008) Normalizing industrial policy: commission on growth and development. Working Paper No. 3. World Bank, Washington, DC
Rodrik D, Subramanian A, Trebbi F (2004) Institutions rule: the primacy of institutions over geography and integration in economic development. J Econ Growth 9(2):131–165. https://doi.org/10.1023/B:JOEG.0000031425.72248.85
Sandström C, Wennberg K, Wallin MW, Zherlygina Y (2018) Public policy for academic entrepreneurship initiatives: a review and critical discussion. J Technol Transfer 43(5):1232–1256. https://doi.org/10.1007/s10961-016-9536-x
Schumpeter JA (1928) The instability of capitalism. Econ J 38(151):361–386. https://www.jstor.org/stable/i338846
Schumpeter JA (1934) The Theory of Economic Development. Harvard University Press, Cambridge, MA
Schumpeter JA (1939) Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process (1st edition). McGraw-Hill, New York, NY, and London
Schumpeter JA (1942) Capitalism, Socialism and Democracy. Harper & Row, New York, NY
Stam E (2015) Entrepreneurial ecosystems and regional policy: a sympathetic critique. Eur Plan Stud 23(9):1759–1769. https://doi.org/10.1080/09654313.2015.1061484
Stigler GJ (1971) The theory of economic regulation. Bell J Econ Manage Sci 2(1):3–21. https://doi.org/10.2307/3003160
Strömberg D (2004) Mass media competition, political competition, and public policy. Rev Econ Stud 71(1):265–284. https://doi.org/10.1111/0034-6527.00284
Summers LH (2015) Demand side secular stagnation. Am Econ Rev 105(5):60–65. https://doi.org/10.1257/aer.p20151103
Thiel PA, Masters B (2014) Zero to One: Notes on Startups, or How to Build the Future. Crown Business, New York, NY
Tullock G (1988) Rents and rent-seeking. In: Rowley CK, Tollison RD, Tullock G (eds) The Political Economy of Rent-Seeking. Topics in Regulatory Economics and Policy (Vol 1). Springer, Boston, MA, pp 51–62. https://doi.org/10.1007/978-1-4757-1963-5_4
Uyarra E, Ramlogan R (2016) The impact of cluster policy on innovation. In: Edler J, Cunningham P, Gök A, Shapira P (eds) Handbook of Innovation Policy Impact. Edward Elgar: Cheltenham and Northampton, MA, pp 196–225. https://doi.org/10.4337/9781784711856
Wallsten SJ (2000) The effects of government-industry R&D programs on private R&D: the case of the Small Business Innovation Research Program. RAND J Econ 31(1):82–100. https://doi.org/10.2307/2601030
Wennberg K, Sandström C (eds) (2022) Questioning the Entrepreneurial State: Status-quo, Pitfalls, and the Need for Credible Innovation Policy. Springer, Cham, CH
Wennberg K, Wiklund J, Wright M (2011) The effectiveness of university knowledge spillovers: performance differences between university spinoffs and corporate spinoffs. Res Policy 40(8):1128–1143. https://doi.org/10.1016/j.respol.2011.05.014
Whitman DG (1998) Hayek contra Pangloss on evolutionary systems. Const Polit Econ 9(1):45–66. https://doi.org/10.1023/A:1009058615310
Zúñiga-Vicente J, Alonso-Borrego C, Forcadell FJ, Galán JI (2014) Assessing the effect of public subsidies on firm R&D investment: a survey. J Economic Surveys 28(1):36–67. https://doi.org/10.1111/j.1467-6419.2012.00738.x
Funding
We acknowledge financial support from the Jan Wallander and Tom Hedelius Foundation (grant P2018-0162) and the Marianne and Marcus Wallenberg Foundation (grant 2020.0049).
Author information
Authors and Affiliations
Corresponding author
Ethics declarations
Conflict of interest
None.
Ethical conduct
We hereby guarantee that we comply with the ethical responsibilities of authors as laid out here: https://www.springer.com/journal/191/submission-guidelines#Instructions%20for%20Authors_Ethical%20Responsibilities%20of%20Authors.
Additional information
Publisher’s Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Rights and permissions
About this article
Cite this article
Henrekson, M., Kärnä, A. & Sanandaji, T. Schumpeterian entrepreneurship: coveted by policymakers but impervious to top-down policymaking. J Evol Econ 32, 867–890 (2022). https://doi.org/10.1007/s00191-022-00761-y
Received:
Revised:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s00191-022-00761-y
Keywords
- Entrepreneurship policy
- High-impact entrepreneurship
- Innovation
- Institutions
- Schumpeterian entrepreneurship