Social and Behavioral Sciences Commons^™

Social Capital, Culture, And Institutions As Determinants Of Entrepreneurship In A Development Context, Daniel Nikolic

Undergraduate Economic Review

Entrepreneurship is still a social term that scholars have difficulty defining, and a lack of consistency in theory in turn leaves researchers without an accurate way to measure entrepreneurial activity. A working definition and theory of the entrepreneur is provided as a way to synthesize the various multi-disciplinary approaches taken towards entrepreneurship in past literature, with emphasis on welfare and judgmental decision-making under uncertainty. Past studies find significant relationships between economic growth and the level of entrepreneurial activity in a country. Little is known, however, on which elements of a society contribute to entrepreneurship and which do not. This study …