Entrepreneurship and regional growth: an evolutionary interpretation
AbstractWhile the neoclassical growth theory considered economic growth as a process of mere accumulation of production capital, the endogenous growth theory shifted the lens to the importance of knowledge in the production process and its potential to create spillovers. We argue in this paper that there is a gap between knowledge and exploitable knowledge or economic knowledge. Economic knowledge emerges from a selection process across the generally available body of knowledge, actively driven by economic agents. This paper suggests that entrepreneurship is an important mechanism in driving that selection process hence in creating diversity of knowledge, which in turn serves as a mechanism facilitating the spillover of knowledge. We provide empirical evidence that regions with higher levels of entrepreneurship indeed exhibit stronger growth in labor productivity. Copyright Springer-Verlag Berlin/Heidelberg 2004
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 14 (2004)
Issue (Month): 5 (December)
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00191/index.htm
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.