Purpose

This paper investigates institutional quality and its impact on entrepreneurship activities in a less-developed economy. The unifying characteristic of government policies in less-developed contexts is that, often, the primary focus of policy makers is not entrepreneurs and, especially, not the impact of these intuitions on entrepreneurs. This paper aims to show that this impact can be considerable. The author investigates political and macroeconomic institutions and regulations, human capital and skills development and access to finance.

Design/methodology/approach

This paper investigates institutions that have major impact on entrepreneurship activities in a less-developed economy. The data used for the analysis is focused on Kosovan entrepreneurship, but the findings are presented in the wider context of economies. The aim of the investigation in this study is to identify whether certain regulations and institutions in different countries affect the level of entrepreneurship activity. In addition, the purpose is to identify similarities and differences among entrepreneurship patterns in diverse economic and institutional settings and to capture this diversity within a common framework. Most of institutions that are subject of analysis belong to one of the following dimensions: political, legal and regulatory institutions, educational institutions geared towards entrepreneurship and the quality of the financial system (e.g. cost of and access to finance). What the empirical results in this paper show is that the impact of such institutions on entrepreneurship can be considerable. The more conducive and qualitative the country’s institutional conditions are, the higher the likely levels of entrepreneurship and vice versa.

Findings

The results of the investigation suggest that compared to the reference countries, entrepreneurship in Kosovo is subject to numerous constraints. However, they suggest, also, that the most binding of these are related to institutional quality, followed by the cost of finance and human capital limitations.

Originality/value

There are few studies in the entrepreneurship literature that use data at the country level, a level that provides a considerable level of precision on the quest to understand what propels and constraints entrepreneurial activity. Given the scarcity of studies at the country level, this study aims to contribute in three ways. First, it aims to advance our discussion of how institutions can rightfully support business creation and retention in a less-developed economy. Second contribution is empirical. Entrepreneurship research rarely incorporates the analysis of several cohorts of firm entrants and exits from a developing and relatively young economy, which, so far, has received little research attention. Third, this analysis contributes to the development of a comparative methodology to measure entrepreneurship activities from an international perspective. The findings obtained for a less-developed economy are compared to data for four benchmark countries, to measure entrepreneurship at the national level.

中文翻译：

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机构与企业家活动：对科索沃和其他经济体的比较分析

目的

本文研究了欠发达经济体中的制度质量及其对创业活动的影响。在欠发达的背景下，政府政策的统一特征是，决策者通常主要关注的不是企业家，尤其是这些直觉对企业家的影响。本文旨在表明这种影响可能是相当大的。作者研究了政治和宏观经济制度与法规，人力资本和技能发展以及获得融资的方式。

设计/方法/方法

本文调查了在欠发达经济体中对创业活动产生重大影响的机构。用于分析的数据集中在科索沃企业家精神上，但研究结果在更广泛的经济背景下提出。本研究调查的目的是确定不同国家的某些法规和制度是否影响企业家活动的水平。此外，目的是要确定在不同的经济和制度环境下创业模式之间的异同，并在一个共同的框架内把握这种多样性。受到分析的大多数机构都属于以下维度之一：政治，法律和监管机构，教育机构着眼于企业家精神和金融系统的质量（例如，融资成本和获得融资的机会）。本文的实证结果表明，此类机构对企业家精神的影响可能是巨大的。国家的制度条件越有利和定性，创业的可能性就越高，反之亦然。

发现

调查结果表明，与参考国家相比，科索沃的企业家精神受到许多限制。但是，他们还建议，这些措施中最具约束力的与制度质量有关，其次是财务成本和人力资本限制。

创意/价值

在创业文献中，很少有研究使用国家一级的数据，该水平在寻求了解什么因素推动和限制了创业活动方面提供了相当高的精确度。鉴于国家/地区研究的稀缺性，本研究旨在通过三种方式做出贡献。首先，它旨在推进我们关于机构如何在欠发达经济体中合理地支持业务创造和保留的讨论。第二点贡献是经验性的。创业研究很少结合对企业进入者和退出发展中的相对年轻的经济体的几个队列的分析，到目前为止，这些研究很少受到研究关注。第三，这项分析有助于从国际角度衡量企业家活动的比较方法的发展。将欠发达经济体的调查结果与四个基准国家的数据进行比较，以衡量国家一级的企业家精神。