<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The continuity of the green environment, economy, and entrepreneur-ship is essential for sustainable development. Therefore, this research aims to explored the potential of informal institutions in promoting Green Enterpreneurship (GE) and sustainable socio-economic development. The method employed used microeconomic data rooted in local wisdom, social norms, and localized moral commitments from various regions of Indonesia. Data collection comprised surveys and structured interviews relevant to the research objectives. Quantitative data material was obtained by conducting a field survey of 150 household samples of green entrepreneurship respondents taken representatively in various regions using simple random sampling techniques. The design employed a two-stage mixed-method approach, including exploratory and explanatory designs. The result showed the significance of Green Enterpreneurship (GE) in mitigating the impacts of global climate change and economic crises, thereby contributing to the attainment of sustainable development goals. However, the main results of the research confirm that the capacity of formal institutions has not been able to navigate the complexity of these problems isssues is limited. Conversely, informal institutions, though capable of mitigating global climate change and advancing sustainable development, remained localized and lacked national and global integration and collaboration. Green Enterpreneurship (GE), as a form of social innovation, gave rise to new models of socio-economic solidarity within unique local communities. The research also underscored the pivotal role of informal institutions in facilitating these endeavors, thereby filling a void in high-quality new institutional economic theory</p>
</abstract>

The continuity of the green environment, economy, and entrepreneur-ship is essential for sustainable development. Therefore, this research aims to explored the potential of informal institutions in promoting Green Enterpreneurship (GE) and sustainable socio-economic development. The method employed used microeconomic data rooted in local wisdom, social norms, and localized moral commitments from various regions of Indonesia. Data collection comprised surveys and structured interviews relevant to the research objectives. Quantitative data material was obtained by conducting a field survey of 150 household samples of green entrepreneurship respondents taken representatively in various regions using simple random sampling techniques. The design employed a two-stage mixed-method approach, including exploratory and explanatory designs. The result showed the significance of Green Enterpreneurship (GE) in mitigating the impacts of global climate change and economic crises, thereby contributing to the attainment of sustainable development goals. However, the main results of the research confirm that the capacity of formal institutions has not been able to navigate the complexity of these problems isssues is limited. Conversely, informal institutions, though capable of mitigating global climate change and advancing sustainable development, remained localized and lacked national and global integration and collaboration. Green Enterpreneurship (GE), as a form of social innovation, gave rise to new models of socio-economic solidarity within unique local communities. The research also underscored the pivotal role of informal institutions in facilitating these endeavors, thereby filling a void in high-quality new institutional economic theory

The Potential of Informal Institutions in Promoting Green Enterpreneurship (Ge) and Sustainable Socio-Economic Development

Department of Development Economics, Faculty of Economics and Business

Departement of Development Economics, Fakulty of Economic and Businnes

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The continuity of the green environment, economy, and entrepreneur-ship is essential for sustainable development. Therefore, this research aims to explored the...

The Potential of Informal Institutions in Promoting Green Enterpreneurship (Ge) and Sustainable Socio-Economic Development

Published Online: Dec 29, 2023

Page range: 1 - 20

Received: Sep 17, 2023

Accepted: Dec 26, 2023

DOI: https://doi.org/10.2478/eoik-2023-0061

Keywords
Informal Institutions, Green Enterpreneurship and Sustainable Socio-Economic Development

© 2023 P Eko Prasetyo et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The Potential of Informal Institutions in Promoting Green Enterpreneurship (Ge) and Sustainable Socio-Economic Development

Published Online: Dec 29, 2023

Page range: 1 - 20

Received: Sep 17, 2023

Accepted: Dec 26, 2023

DOI: https://doi.org/10.2478/eoik-2023-0061

KeywordsInformal Institutions, Green Enterpreneurship and Sustainable Socio-Economic Development

© 2023 P Eko Prasetyo et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Informal Institutions, Green Enterpreneurship and Sustainable Socio-Economic Development