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Fall 2018

ISSN 0890-913X

Volume 33, Number 3

Categories: Fall 2018 | Entrepreneurship | Business

Entrepreneurship and Weak Institutions in Latin America

Antonio Lecuna, Universidad del Desarrollo

Roberto Chávez, Universidad Diego Portales

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TheJournalofPrivateEnterprise33(3),2018,25–47EntrepreneurshipandWeakInstitutionsinLatinAmericaAntonioLecuna*UniversidaddelDesarrolloRobertoChávezUniversidadDiegoPortales______________________________________________________AbstractThispaperseekstoexplainhowheterogeneityingovernmentalinstitutionsacrosscountriesaffectsentrepreneurialactivity.DrawingoninsightsfrominstitutionaltheoryandbasedonpaneldatafromeighteenLatinAmericannationsforthe2002–2014period,thefindingspresentedheresuggestthat(1)decreasingthenumberofdaysrequiredtostartabusinessincreasestheratioofhigh-growthentrepreneurs;(2)corruptionincreasesthenumberofnewlyregisteredcorporationsper1,000working-agepeople;and(3)increasingthetimerequiredtostartabusinessdecreasesthegrowthexpectationofearly-stageentrepreneurialactivityacrossnations.______________________________________________________JELCodes:D73,L26,M13Keywords:entrepreneurialactivity,corruption,institutionaltheory,high-growthentrepreneursI.IntroductionThisstudysuggeststhathigh-growthentrepreneurialactivitydoesnotthriveinaninstitutionalcontextofvoidsandbarriers(Klapper,Laeven,andRajan2006;MacMullen,Bagby,andPalich2008).TheargumentspresentedhereareconsistentwiththoseadvancedbyBaumol(1990),whosuggestedthatinstitutionalvoidsandbarriersmayencourageunproductiveanddestructiveformsofentrepreneurshipandbreednegativesocietalattitudestowardentrepreneurs(Baumol1990).Identifyingtheinstitutionsthatsupportentrepreneurshipmayprovidefurtherinsightsforpolicymakers(Estrin,Mickiewicz,and*AnearlierversionofthismanuscriptwasawardedBestPaperinEntrepreneurshipandPublicPolicyattheUSASBE2016AnnualConferenceinSanDiego.

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Metadata [hide]

Title	Entrepreneurship and Weak Institutions in Latin America
Authors/Creators:	Antonio Lecuna, Universidad del Desarrollo Roberto Chávez, Universidad Diego Portales
Year:	2018
Volume:	33
Number:	3
Pages:	25 - 47
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	entrepreneurial activity, corruption, institutional theory, high-growth entrepreneurs

Citation:
Lecuna, Antonio; Chávez, Roberto / 2018. "Entrepreneurship and Weak Institutions in Latin America." The Journal of Private Enterprise, 33(3): 25-47.