Entrepreneurial ecosystems and economic resilience at local level

The main aim of this paper is to investigate if and to what extent entrepreneurial ecosystems (EE) have an impact on economic resilience at local level. The paper is based on a quantitative analysis for the Italian provinces (NUT-3 level) and presents two novelties: first, it provides a composite index of EE at local level by capturing the different aspects encompassing political, social, cultural and economic dimensions of an EE; second, it analyzes the role of EE in terms of resistance to and recovery from external shocks. The empirical results show that EE has a relevant role in explaining the resilience of local systems to economic shocks. The positive effect also remains when controlling for the direct impact of new firm formation, thus highlighting that the EE concept has a greater significance for characterizing resilience and entrepreneurial activity at local level than entrepreneurial rates.