000			01524nab a22001697a 4500
008			160615b2014 xxu||||| |||| 00| 0 eng d
100			_aKalantaridis, Christos
245			_aInstitutional change in the Schumpeterian-Baumolian construc _cpower, contestability and evolving entrepreneurial interests
260			_c2014
300			_a1-22
520			_aBaumol's hypothesis, i.e. that the allocation of entrepreneurial talent in productive, unproductive and destructive activities is determined by the rules of the game, is supported by a growing body of empirical research and underpins new avenues of research in entrepreneurial studies. However, Baumol's paper offers precious few insights, beyond policy action, regarding how change to the rules of the game can be effected, because it views institutions as endogenous. This paper sets out to address this gap through an extension of Schumpeterian-Baumolian construct. The paper argues that changing institutions is a contestable process: its outcome determined by the complex nexus of interests and power endowments of actors. Changing the outcome of this contestation is dependent on the emergence of new entrepreneurial groupings and/or the evolution of the power endowments or interests of existing ones. Two historical illustrations are used to support the hypothesis and of this study.
650			_aPower
650			_aEconomic Development
650			_aEntrepreneurship
650			_aInstitutions
773			_aEntrepreneurship & Regional Development _dJanuary
999			_c41537 _d41537