Work Package 2

Main tasks/objectives

Coordinator: Prof. Magnus Henrekson (IFN)

In this work package the biggest challenge will be 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, will deliver three studies into the historical evolution of key institutions in finance, labour markets and knowledge creation.
  • In addition to these core deliverables, there will be 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 will contribute.


Deliverable Lead Due Date Download
D2.1 – An institutional framework for innovation and entrepreneurship IFN October 2016
D2.2 – The institutional evolution of finance in Europe and entrepreneurship UU June 2018
D2.3 – Venture capital in Europe POLIMI October 2017
D2.4 – The institutional evolution of knowledge creation in Europe and entrepreneurship UU February 2017
D2.5 – The institutional evolution of labour market institutions in Europe and entrepreneurship UU June 2016
D2.6 – Superentrepreneurship in Asia, Europe and the US IFN October 2016
D2.7 – Megatrends and  the transition from a managed to an entrepreneurial economy in Europe KU Leuven April 2017