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Entrepreneurship, Structural Change and a Global Economic Crisis

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  • Gries Thomas

    (University of Paderborn)

  • Naude Wim

    (United Nations University and Maastricht School of Management)

Abstract

Building on a Lewis-type model of structural change and entrepreneurship we illustrate how a global economic crisis consisting of a financial and a trade shock can undermine structural change in developing countries via the start-up and innovation activities of entrepreneurs. The model analytics identifies a number of challenges for structural change in a post-crisis world, including dealing with greater bank concentration, higher costs of bank monitoring and stricter regulations and collateral requirements, flights-to-safety in global finance and reduced incentives for innovation and job-creating start-up activities.

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Bibliographic Info

Article provided by De Gruyter in its journal Entrepreneurship Research Journal.

Volume (Year): 1 (2011)
Issue (Month): 3 (July)
Pages: 1-43

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Handle: RePEc:bpj:erjour:v:1:y:2011:i:3:n:4

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  1. Gries, Thomas & Naude, Wim, 2008. "Entrepreneurship and Structural Economic Transformation," Working Paper Series RP2008/62, World Institute for Development Economic Research (UNU-WIDER).
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Cited by:
  1. Martínez Mateo, Jesús & Mira Solves, Ignacio & Gómez Gras, José M.ª, 2013. "Influence of the economic cycle on the determinants of nascent entrepreneurial activity. An empirical analysis of the Spanish case," Investigaciones Regionales, Asociación Española de Ciencia Regional, issue 26, pages 19-45.
  2. Wim Naudé, 2011. "The Global Financial Crisis and Development: Implications for the Entrepreneurial Economy," Working Papers 2011/01, Maastricht School of Management.

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