We review and assess the role local institutional framework conditions play in fostering local entrepreneurship. The basic premise is that entrepreneurship is a central driver of economic renewal and change, and that institutions affect both the supply and direction of entrepreneurship. While...

This paper aims to analyse how innovative, individual activities influence the evolution of local industries according to three stages. When discussing the evolution of industries or economies, the concept of path dependency is often a central element. Its vague nature makes it however difficult...