Informal Institutions, Entrepreneurship, and Social Progress: A Comparative and Correlational Study
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León Quillas, C. I., Rueda Rodríguez, H. F., & Hernández Rodríguez, A. (2023). Informal Institutions, Entrepreneurship, and Social Progress: A Comparative and Correlational Study. Revista Guillermo De Ockham, 21(1), 113–129. https://doi.org/10.21500/22563202.5577 (Original work published November 10, 2022)
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Abstract
This article carries out a comparative analysis between a group of six countries made up of Australia, Canada, Finland, Sweden, the United Kingdom, and the United States, on the one hand and Chile, Colombia, Mexico, and Peru, on the other hand. These countries were selected from the differences that they present in terms of social progress, entrepreneurship, and culture. The objective is to find relationships among certain informal institutions, the level of entrepreneurship and social progress. The type of study is descriptive and exploratory, with correlational scopes, where information from the cultural dimensions of Hofstede Insights (2018), the Global Entrepreneurship Index of 2018 and the Social Progress Index of 2018 is used. On a general level, results show correlations that reveal a tendency of the more developed countries to register a lower power distance, less aversion to uncertainty and a preference towards individualism, besides greater social progress and better environmental quality.
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References
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Ostrom, E. (1990). Governing the commons: The evolutions of institutions for collective action. Cambridge University Press.
Postelnicu, L., y Hermes, N. (2015). Microfinance performance and informal institutions: A cross-country analysis. CEB. https://dipot.ulb.ac.be/dspace/bitstream/2013/208318/3/wp15032.pdf
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Seyoum, B. (2011). Informal institutions and foreign direct investment. Journal of Economic Issues, 45(4), 917-940. https://doi.org/10.2753/JEI0021-3624450409
Shikida, C. D., de Araujo, A. F., Sant'Anna, P. H. C. (2011). Why some states fail: The role of culture. Cato Journal, 31(1), 59-74.
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Tomaszewski, M. (2018). Corruption: a dark side of entrepreneurship. Corruption and innovations. Prague Economic Papers, 27(3), 251-269. https://doi.org/10.18267/j.pep.647
Unesco. (2001). Declaración Universal de la Unesco sobre la Diversidad Cultural. http://portal.unesco.org/es/ev.php-URL_ID=13179&URL_DO=DO_TOPIC&URL_SECTION=201.html
Webb, J. W., Khoury, T. A., y Hitt, M. A. (2020). The influence of formal and informal institutional voids on entrepreneurship. Entrepreneurship Theory and Practice, 44(3), 504-526. https://doi.org/10.1177/1042258719830310
Williamson, C. R. (2009). Informal institutions rule: Institutional arrangements and economic performance. Public Choice, 139(3/4), 371-387. https://doi.org/10.1007/s11127-009-9399-x
Bjørnskov, C. (2012). How does social trust affect economic growth? Southern Economic Journal, 78(4), 1346-1368. https://doi.org/10.4284/0038-4038-78.4.1346
Bologna, J., y Ross, A. (2015). Corruption and entrepreneurship: Evidence from Brazilian municipalities. Public Choice, 165, 59-77. https://doi.org/10.1007/s11127-015-0292-5
Bostan, I., Clipa, F., y Clipa, R. I. (2016). Informal institutions and economic performance. Knowledge Horizons-Economics, 8(2), 53-58.
Callais, J. T., y Salter, A. W. (2020). Ideologies, institutions, and interests: Why economic ideas don't compete on a level playing field. Independent Review, 25(1), 63-78. https://link.gale.com/apps/doc/A639265781/PPBE?u=univalle&sid=bookmark-PPBE&xid=a0f9f954
Chiles, T. H., Bluedorn, A. C., y Gupta, V. K. (2007). Beyond creative destruction and entrepreneurial discovery: A radical Austrian approach to entrepreneurship. Organizational Studies, 28(4), 467-493. https://doi.org/10.1177/0170840606067996
Díaz Arancibia, J. (2012). Usabilidad e interculturalidad [Tesis de maestría, Pontificia Universidad Católica del Perú]. PUCP. http://hdl.handle.net/20.500.12404/5271
Elert, N., y Henrekson, M. (2017). Entrepreneurship and institutions: A bidirectional relationship. Research Institute of Industrial Economics. https://www.ifn.se/media/mzyntwqz/wp1153.pdf
González, A., y Amérigo, M. (2008). Relationship among values, beliefs, norms and ecological behavior. Psicothema, 20(4), 623-629. http://www.redalyc.org/articulo.oa?id=72720418
Helmke, G., y Levitsky, S. (2004). Informal institutions and comparative politics: A research agenda. Perspective on Politics, 2(4), 725-740. https://www.jstor.org/stable/3688540
Hernández, R., Fernández, C., y Baptista, P. (2014). Metodología de la investigación (6.a ed.). McGraw-Hill.
Hernández-Betancur, J. E., Montoya-Restrepo, I., y Montoya-Restrepo, L. A. (2017). El momento de la decisión desde la perspectiva de estrategias deliberadas y emergentes. AD-Minister, (31), 93-114. https://doi.org/10.17230/ad-minister.31.6
Hofstede, G. (2001). Culture’s consequences: Comparing values, behaviors, institutions and organizations across nations. Sage.
Hofstede, G. (2011). Dimensionalizing cultures: The Hofstede model in context. Online Readings in Psychology and Culture, 2(1), 1-26. doi:https://doi.org/10.9707/2307-0919.1014
Hofstede Insights. (2018). Compare countries. https://www.hofstede-insights.com/product/compare-countries/
Khan, Z. U., Hussain, A., y Iqbal, N. (2017). Institutions and innovation: Evidence from countries at different stages of development. The Pakistan Development Review, 56(4), 297-317. https://www.jstor.org/stable/44986423
Kiwit, D., y Voigt, S. (1995). Überlegungen zum institutionellenWandel unter Berücksichtigung des Verhältnisses interner und externer Institutionen. Ordo, 46, 117-148.
Knowles, S., y Owen, P. D. (2010). Which institutions are good for your health? The deep determinants of comparative cross-country health status. Journal of Development Studies, 46(4), 701-723. https://doi.org/10.1080/00220380903428399
Lajqi, S., y Krasniqi, B. A. (2017). Entrepreneurial growth aspirations in challenging environment: The role of institutional quality, human and social capital. Strategic Change, 26(4), 385-401. https://doi.org/10.1002/jsc.2139
León, C. I., Rueda, H. F., y González-Campo, C. H. (2020). Instituciones formales, desarrollo humano y emprendimiento: un estudio comparativo entre países altamente desarrollados y países miembros de la Alianza del Pacífico. AD-Minister, (36), 45-66. https://doi.org/10.17230/Ad-minister.36.3
López, A. (2006). Empresarios, instituciones y desarrollo económico: el caso argentino. Cepal.
Mankiw, N. G. (2002). Principios de economía. McGraw-Hill.
Méndez, C. (2011). Metodología diseño y desarrollo del proceso de investigación con énfasis en ciencias empresariales. Limusa.
Młokosiewicz, M., y Misiak-Kwit, S. (2017). The impact of trust on entrepreneurship in Poland. Journal of Entrepreneurship, Management and Innovation, 13(2017), 79-95.
North, D. (2010). Instituciones cambio institucional y desempeño económico. Fondo de Cultura Económica.
Ostapenko, N. (2015). National culture, institutions and economic growth: The way of influence on productivity of entrepreneurship. Journal of Entrepreneurship and Public Policy, 4(3), 331-351. https://doi.org/10.1108/JEPP-11-2014-0040
Ostrom, E. (1990). Governing the commons: The evolutions of institutions for collective action. Cambridge University Press.
Postelnicu, L., y Hermes, N. (2015). Microfinance performance and informal institutions: A cross-country analysis. CEB. https://dipot.ulb.ac.be/dspace/bitstream/2013/208318/3/wp15032.pdf
Pylypenko, Y., Pylypenko, H., Lytvynenko, N., Tryfonova, O., y Prushkivska, E. (2019). Institutional components of socio-economic development. Naukovyi Visnyk NHU, (3), 164-171.
Romero Placeres, M., Diego Olite, F., y Álvarez Toste, M. (2006). La contaminación del aire: su repercusión como problema de salud. Revista Cubana de Higiene y Epidemiología, 44(2), 1-14. http://www.redalyc.org/articulo.oa?id=223214848008
Schultz, P. W. (2000). Empathizing with nature: The effects of perpective taking on concern for environmental issues. Journal of Social Issues, 56(3), 391-406.
Seyoum, B. (2011). Informal institutions and foreign direct investment. Journal of Economic Issues, 45(4), 917-940. https://doi.org/10.2753/JEI0021-3624450409
Shikida, C. D., de Araujo, A. F., Sant'Anna, P. H. C. (2011). Why some states fail: The role of culture. Cato Journal, 31(1), 59-74.
Shane, S., y Venkatraman, S. (2000). The promise of entrepreneurship as a field of research. The Academy of Management Review, 25(1), 217-226. https://doi.org/10.2307/259271
Social Progress Imperative. (2018). Índice de Progreso Social. https://www.socialprogress.org/
Tomaszewski, M. (2018). Corruption: a dark side of entrepreneurship. Corruption and innovations. Prague Economic Papers, 27(3), 251-269. https://doi.org/10.18267/j.pep.647
Unesco. (2001). Declaración Universal de la Unesco sobre la Diversidad Cultural. http://portal.unesco.org/es/ev.php-URL_ID=13179&URL_DO=DO_TOPIC&URL_SECTION=201.html
Webb, J. W., Khoury, T. A., y Hitt, M. A. (2020). The influence of formal and informal institutional voids on entrepreneurship. Entrepreneurship Theory and Practice, 44(3), 504-526. https://doi.org/10.1177/1042258719830310
Williamson, C. R. (2009). Informal institutions rule: Institutional arrangements and economic performance. Public Choice, 139(3/4), 371-387. https://doi.org/10.1007/s11127-009-9399-x
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