Institutional reform for innovation and entrepreneurship: An agenda for Europe

Arbeitspapier

It is imperative that the economies of the European Union become more entrepreneurial to promote innovation and economic growth. To achieve these goals, we propose a reform strategy with respect to (i) the rule of law and the protection of property rights; (ii) the tax system; (iii) regulations governing savings, capital and finance; (iv) the organization of labor markets and social insurance systems; (v) regulations governing goods and service markets; (vi) regulations governing bankruptcy and insolvency; (vii) R&D, commercialization and knowledge spillovers; (viii) human capital investments; and (ix) informal institutions. Overall, the proposed institutional changes move in a liberalizing direction; however, one-size-fits-all policy reforms aimed at freer markets will not necessarily be successful. Instead, a successful reform strategy must consider country differences that affect the viability of reform without abandoning the long-term goal of institutional liberalization to promote entrepreneurship, innovation and growth.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IFN Working Paper ; No. 1150

Classification and Topics

• Classification: Wirtschaft ; Entrepreneurship ; New Firms; Startups ; Innovation and Invention: Processes and Incentives ; Capitalist Systems: Property Rights
• Subject: Entrepreneurship ; European Union ; Innovation ; Institutions ; Policy reform ; Regulation ; Self-employment ; Technologiepolitik ; Entrepreneurship ; Unternehmensgründung ; Innovation ; Institutioneller Wandel ; Gründungsförderung ; Selbstständige ; EU-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Elert, Niklas ; Henrekson, Magnus ; Stenkula, Mikael
• Event: Veröffentlichung
• (who): Research Institute of Industrial Economics (IFN)
• (where): Stockholm
• (when): 2017

Further information

• Handle: http://hdl.handle.net/10419/183379
• Last update: 10.03.2025, 11:42 AM CET