“…A myriad of studies has been devoted to explain the effects of the types of institutions on: level of entrepreneurship (e.g. Busenitz et al, 2000;Westlund and Bolton, 2003;Spencer and Gomez, 2004;Lee et al, 2007;Aidis et al, 2008;Nyström, 2008;Greener, 2009;Mitchell and Campbell, 2009;Stenholm et al, 2013;Simon-Moya et al 2013;Urbano and Alvarez, 2014;Bastian et al, 2015;Castano et al, 2015;Williams and Vorley, 2015;Majbouri, 2016;and Elert et al, 2017) and types or natures of entrepreneurship (e.g. Baumol,1990;Stephen et al, 2005;Sobel, 2008;Bowen and De Clercq, 2008;El-Harbi and Anderson, 2010;Trolio, 2011;Stenholm et al, 2013;Valdez and Richardson, 2013;Dau and Cuervo-Cazurra, 2014;Sambharya and Musteen, 2014;Aparicio et al, 2015;Fuentelsaz et al, 2015;Muralidharan and Pathak, 2016;Fuentelsaz et al, 2018).…”