Unlike the previous chapter, which discussed theories of entrepreneurship framed at the level of the individual, this chapter treats theories framed at higher levels of aggregation. These levels are the regional and the macroeconomic. Regional theories explore why some geographic locations experience different quantities and types of entrepreneurship than others, while macroeconomic theories are concerned with national differences in entrepreneurship and processes linking entrepreneurship with economic development. The chapter discusses various mechanisms that link entrepreneurship with economic growth, and which delineate the role of innovative entry and exit over the business cycle. Different theories predict the `quality’ as well as the quantity of entrepreneurship to vary in different ways as economies swing between upturns and recessions.