Sources of Growth: the Entrepreneurial versus the Managed Economy
AbstractThe purpose of this paper is to suggest that a fundamental shift in Europe, along with the other OECD countries, is taking place. This shift is from the managed economy to the entrepreneurial economy. While politicians and policy-makers have made a plea for guidance in the era of entrepreneurship, scholars have been slow to respond. The purpose of this paper is to make a first step identifying and articulating these differences. It does this by contrasting the most fundamental elements of the newly-emerging entrepreneurial economy with those of the managed economy. We identify fifteen trade-offs confronting these two polar words. The common thread throughout these trade-offs is the increased role of new and small enterprises in the entrepreneurial economy. A particular emphasis is placed on changes in economic policy demanded by the entrepreneurial economy vis-à-vis the managed economy. We then explore whether restructuring towards the entrepreneurial economy has been conducive to economic growth and job creation. Our empirical analysis links the stage of the transition towards an entrepreneurial economy to the growth rates of European countries over a recent period. We find that those countries that have introduced a greater element of entrepreneurship have been rewarded with additional growth.
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1710.
Date of creation: Oct 1997
Date of revision:
Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
Find related papers by JEL classification:
- L0 - Industrial Organization - - General
- O0 - Economic Development, Technological Change, and Growth - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Verheul, I. & Thurik, A.R., 2000. "Start-Up Capital," ERIM Report Series Research in Management ERS-2000-07-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- Marco van Gelderen & Roy Thurik & Micheal Frese, 2000.
"Strategies, uncertainty and performance of small business startups,"
Scales Research Reports
H200001, EIM Business and Policy Research.
- Marco von Gelderen & Michael Frese & Roy Thurik, 2000. "Strategies, Uncertainty and Performance of Small Business Startups," Small Business Economics, Springer, vol. 15(3), pages 165-181, November.
- van Gelderen, Marco & Frese, Michael & Thurik, Roy, 2000. " Strategies, Uncertainty and Performance of Small Business Startups," Small Business Economics, Springer, vol. 15(3), pages 165-81.
- van Gelderen, A.M. & Frese, M. & Thurik, A.R., 2000. "Strategies, Uncertainty and Performance of Small Business Startups," ERIM Report Series Research in Management ERS-2000-18-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- van Gelderen, M. & Frese, M. & Thurik, R., 2000. "Strategies, Uncertainty and Performance of Small Business Startups," Papers 0001/e, NEUHUYS - RESEARCH INSTITUTE FOR SMALL AND MEDIUM.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.