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Exploiting Entrepreneurial Opportunities: The Impact of Entrepreneurship on Growth

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  • Pamela Mueller

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Abstract

Knowledge is recognized as an important ingredient for economic growth in addition to physical capital and labor. While transforming knowledge into products and processes it is exploited commercially. Nevertheless, the existing knowledge stock and the absorptive capacity of actors like employees at firms and researchers at universities and research institutions are conditional for the ability to produce, identify, and exploit knowledge. Since incumbent firms do not exploit new knowledge to the full extent, realized entrepreneurial opportunities may arise. This paper tests the hypothesis whether or not entrepreneurship is an important vehicle for knowledge flows and economic growth. The empirical results indicate that an increase in innovative start-up activity is more effective than an increase in general entrepreneurship for economic growth. Copyright Springer Science+Business Media, LLC 2007

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File URL: http://hdl.handle.net/10.1007/s11187-006-9035-9
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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 28 (2007)
Issue (Month): 4 (April)
Pages: 355-362

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Handle: RePEc:kap:sbusec:v:28:y:2007:i:4:p:355-362

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Web page: http://www.springerlink.com/link.asp?id=100338

Related research

Keywords: Regional growth; knowledge; entrepreneurship; L26; M13; O18; O31;

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References

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  1. S. Klepper & S. Sleeper, 2002. "Entry by Spinoffs," Papers on Economics and Evolution 2002-07, Max Planck Institute of Economics, Evolutionary Economics Group.
  2. Parker,Simon C., 2004. "The Economics of Self-Employment and Entrepreneurship," Cambridge Books, Cambridge University Press, number 9780521828130, November.
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  15. Mueller, Pamela, 2006. "Exploring the knowledge filter: How entrepreneurship and university-industry relationships drive economic growth," Research Policy, Elsevier, vol. 35(10), pages 1499-1508, December.
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Citations

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Cited by:
  1. T√∫lio Cravo, 2011. "Regional Economic Growth and SMEs in Brazil: a Spatial Analysis (Submission for the Refereed Y-session Papers)," ERSA conference papers ersa10p508, European Regional Science Association.
  2. Túlio Cravo & Adrian Gourlay & Bettina Becker, 2012. "SMEs and regional economic growth in Brazil," Small Business Economics, Springer, vol. 38(2), pages 217-230, February.
  3. Hulbert, Bev & Gilmore, Audrey & Carson, David, 2013. "Sources of opportunities used by growth minded owner managers of small and medium sized enterprises," International Business Review, Elsevier, vol. 22(1), pages 293-303.
  4. Edward Nissan & Maria-Soledad Castaño & Inmaculada Carrasco, 2012. "Drivers of non-profit activity: a cross-country analysis," Small Business Economics, Springer, vol. 38(3), pages 303-320, April.
  5. Koster, Sierdjan & Karlsson, Charlie, 2009. "New Firm Formation and Economic Development in a Globalizing Economy," Working Paper Series in Economics and Institutions of Innovation 167, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  6. E. Santarelli & H. T. Tran, 2011. "Growth of Incumbent Firms and Entrepreneurship in Vietnam," Working Papers wp785, Dipartimento Scienze Economiche, Universita' di Bologna.
  7. M. Carree & A. Della Malva & E. Santarelli, 2011. "The Contribution of Universities to Growth: Empirical Evidence for Italy," Working Papers wp793, Dipartimento Scienze Economiche, Universita' di Bologna.
  8. Massón Guerra, José Luis, 2007. "El capital empresarial como determinante de la productividad y el crecimiento en España
    [The Impact of Entrepreneurship Capital on Spanish's Labor Productivity and Economic Growth]
    ," MPRA Paper 4073, University Library of Munich, Germany.
  9. Michael Fritsch, 2012. "Methods of analyzing the relationship between new business formation and regional development," Jena Economic Research Papers 2012-064, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  10. Galindo, Miguel-Ángel & Méndez, María Teresa, 2014. "Entrepreneurship, economic growth, and innovation: Are feedback effects at work?," Journal of Business Research, Elsevier, vol. 67(5), pages 825-829.
  11. Luca Colombo & Herbert Dawid, 2008. "Complementary Assets, Start-Ups and Incentives to Innovate," DISCE - Quaderni dell'Istituto di Economia e Finanza ief0080, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

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