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Top1. Introduction
Entrepreneurial initiatives and exports have a positive impact on national competitiveness and regional development, increasing both productivity, wealth, and jobs creation (Dana et al. 2014; Farinha et al., 2014; Huggins and Williams 2011; Ratten, 2014; Smith and Bagchi-Sen 2012; Valliere and Peterson 2009). The increased regional competitiveness based on country regions has meant that it is also urgent to evaluate the behavior of countries in the field of entrepreneurial culture and entrepreneurship rate. This is due to the globalization of markets and the resulting mass of competition associated with greater technological complexity, making innovation a key aspect for enterprises and their countries (Farinha et al. 2014; Ocampo & Clark, 2017). This is seen in the productivity of a country determining its ability to sustain its level of income and is one of the central determinants affecting return on investment, which is one of the key factors explaining an economy’s growth potential (Balkyte and Tvaronavičiene 2010; Farinha et al. 2015). This has lead to the economic role of territorial capital being to enhance the efficiency and productivity of local activities (Camagni, 2008). Due to the increased emphasis on regional competitiveness it is important to understand the conditions supporting entrepreneurship.
Despite the several studies published in the last decades on the determinants of the economies competitiveness (Bergsteiner & Avery, 2012; Lall, 2001; Porter et al., 2000; Klaus Schwab, 2015; Squalli et al., 2008); and on the attitude and entrepreneurial activity (Bosma & Schutjens, 2011; García-Tabuenca et al., 2010; Hayton & Cacciotti, 2013; Huggins & Williams, 2011; Valliere & Peterson, 2009), a gap is identified in the literature about studies that combine both these perspectives, and that focus their impact on the nation’s sustainable growth.
This study focuses on the national framework conditions and entrepreneurial culture, which are important factors in providing territorial competitive advantage, resulting in higher innovativeness and entrepreneurship levels. According to Hayton & Cacciotti (2013) entrepreneurial culture is that distinguishes entrepreneurs from non-entrepreneurs. These are cultural values and beliefs, motivations, attitudes and entrepreneurial behaviours.