Coordinator: Prof. Magnus Henrekson (IFN)
In this work package the biggest challenge was to identify what institutions we should consider given and which ones one might be able to reform. A basic insight from new institutional economics (Williamson, 2000) is that higher order embedded institutions, such as culture, change only gradually but have a big influence on how the lower order institutions, such as constitutions, laws, regulation and prices affect our daily lives. More specifically for this project:
- Historians Dr. Gerarda Westerhuis and Dr. Selin Dilli, in close cooperation with economists Prof. Magnus Henrekson and Dr. Claire Economidou, delivered three studies into the historical evolution of key institutions in finance, labour markets and knowledge creation.
- In addition to these core deliverables, there are studies into the historical evolution of Venture Capital in particular by Dr. Luca Grili. And the global evolution of Superentrepreneurship by Prof. Magnus Henrekson and Dr. Mikael Stenkula.
- As well as a report on relevant megatrends in the global economy that drive the transition to an entrepreneurial economy to which Dr. Axel Marx, Prof. Michael Fritsch and Prof. Erik Stam contributed.