Building upon institutional economics, we examine how social progress orientation (SPO) affects inclusive growth through innovative and opportunity entrepreneurship. Hypotheses about civic activism, voluntary spirit, and the inclusion of minorities as proxies of SPO that affect entrepreneurship directly and inclusive growth indirectly have been suggested. Using unbalanced panel data of 132 observations (63 countries) and the three-stage least-squares method (3SLS), we provide empirical evidence that these three measures of SPO significantly affect innovative and opportunity entrepreneurship. Interestingly, our endogenous measures of entrepreneurial activity have served to explain inclusive growth, which is observed through poverty reduction across countries. Public policies should focus on social values oriented to progress in order to stimulate valuable entrepreneurial activity and hence facilitate economic development that also embraces vulnerable communities.

中文翻译：

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企业家精神对包容性增长至关重要吗？社会进步导向的作用

在制度经济学的基础上，我们研究了社会进步取向（SPO）如何通过创新和机会企业家精神影响包容性增长。有人提出了关于公民行动主义，志愿精神以及将少数群体作为SPO代理人的假设，这些假设直接影响企业家事业并间接地影响包容性增长。使用132个观测值（63个国家/地区）的不平衡面板数据和三阶段最小二乘法（3SLS），我们提供了经验证据，表明SPO的这三个指标显着影响创新和机会创业。有趣的是，我们对企业家活动的内在衡量方法可以解释包容性增长，这可以通过各国之间的减贫来观察。