Abstract
We study the effect of nations’ financial and industrial contexts on their innovative share of entrepreneurship. We argue that this effect is not universally strongly positive as may be assumed from extant research. This argument is supported by analysis of 333 country-year observations for 88 countries from the GEM and World Economic Forum databases. The findings highlight how a nation’s informal institutional context moderates the effect of its objective resource context on its innovative share of entrepreneurs. In particular, they contribute to the nascent interest in the cultural processes impacting on the sense making of a nation’s innovative-oriented entrepreneurs.