Understanding the role of entrepreneurial quality and national culture on the economic development

Abstract

Today’s global social-political environment leads many to elevate entrepreneurship as a vehicle facilitating economic development. Even though different regions have similar new firm formation rates, there is much variation in terms of the contribution to economic development. Building on the resource based-view and Hofestede’s research on cultural dimensions, this paper proposes three factor view of the quality of entrepreneurship. We posit that the quality of entrepreneurship, rather than quantity, is the main determinant of economic development.