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The Missing Link: The Knowledge Filter and Entrepreneurship in Endogenous Growth

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Author Info
Acs, Zoltán J
Audretsch, David B
Braunerhjelm, Pontus
Carlsson, Bo

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Abstract

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant knowledge. This Paper develops a model that introduces a filter between knowledge and economic knowledge and identifies entrepreneurship as a mechanism that reduces the knowledge filter. A cross-country regression analysis over the period 1981-2001 provides empirical support for the model. We conclude that public policies facilitating knowledge spillovers through entrepreneurship may be an important new approach to promoting economic growth.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 4783.

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Date of creation: Dec 2004
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Handle: RePEc:cpr:ceprdp:4783

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Related research
Keywords: endogenous growth; entrepreneurship; innovation; knowledge;

Find related papers by JEL classification:
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General

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  1. Michelacci, Claudio & Silva, Olmo, 2006. "Why So Many Local Entrepreneurs?," CEPR Discussion Papers 5828, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Doga Kayalar Erdem & David B. Audretsch, 2004. "Determinants Of Scientist Entrepreneurship: An Integrative Research Agenda," Papers on Entrepreneurship, Growth and Public Policy 2004-42, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
  3. David B. Audretsch & Max Keilbach, 2006. "Entrepreneurship, Growth and Restructuring," Papers on Entrepreneurship, Growth and Public Policy 2006-13, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
  4. Thurik, Roy, 2009. "Entrepreneurship, Economic Growth and Policy in Emerging Economies," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
    Other versions:
  5. Viktoria Kocsis & Ruslan Lukach & Bert Minne & Victoria Shestalova & Nick Zubanov & Henry van der Wiel, 2009. "Relation entry, exit and productivity," CPB Documents 180, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  6. Zoltan J. Acs & Mark Sanders, 2008. "Intellectual Property Rights and the Knowledge Spillover Theory of Entrepreneurship," Working Papers 08-23, Utrecht School of Economics. [Downloadable!]
    Other versions:
  7. Bianchi, Milo & Henrekson, Magnus, 2005. "Is Neoclassical Economics still Entrepreneurless?," Working Paper Series in Economics and Finance 584, Stockholm School of Economics, revised 02 Feb 2005. [Downloadable!]
    Other versions:
  8. Kostas Tsekouras & Dimitris Skuras & Irene Daskalopoulou, 2008. "The role of productive efficiency on entry and post-entry performance under different strategic orientation: the case of the Greek plastics and rubber industry," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 37-55. [Downloadable!]
  9. Junbo, Y. & Stough, R.R. & Nijkamp, P., 2008. "Governing Technological Entrepreneurship in China and the West," Serie Research Memoranda 0019, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
  10. David B. Audretsch, 2007. "From small business promotion to creating an entrepreneurial society," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 8(2), pages 3-6, 07. [Downloadable!]
  11. Zoltan Acs & Pontus Braunerhjelm & David Audretsch & Bo Carlsson, 2009. "The knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 32(1), pages 15-30, January. [Downloadable!] (restricted)
    Other versions:
  12. Zoltan J. Acs & David J. Brooksbank & Colm O'Gorman & David G. Pickernell & Siri Terjesen, 2007. "The Knowledge Spillover Theory of Entrepreneurship and Foreign Direct Investment," Jena Economic Research Papers in Economics 2007-059, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics, Thueringer Universitaets- und Landesbibliothek. [Downloadable!]
  13. Braunerhjelm, Pontus & Borgman, Benny, 2006. "Agglomeration, Diversity and Regional Growth," Working Paper Series in Economics and Institutions of Innovation 71, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies. [Downloadable!]
  14. André van Stel & Roy Thurik & Sander Wennekers & Martin Carree, 2009. "The relationship between entrepreneurship and economic development: is it U-shaped?," Scales Research Reports H200824, EIM Business and Policy Research. [Downloadable!]
  15. Audretsch, David B & Phillips, Ronnie, 2007. "Entrepreneurship, State Economic Development Policy, and the Entrepreneurial University," CEPR Discussion Papers 6242, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  16. Kander, Astrid & Ejermo, Olof, 2006. "The Swedish Paradox," CIRCLE Electronic Working Paper Series 2006-01, CIRCLE (Centre for Innovation, Research and Competence in the Learning Economy), Lund University. [Downloadable!]
  17. Jolanda Hessels & Marco Gelderen & Roy Thurik, 2008. "Entrepreneurial aspirations, motivations, and their drivers," Small Business Economics, Springer, vol. 31(3), pages 323-339, October. [Downloadable!] (restricted)
  18. Zoltán Ács & Attila Varga, 2005. "Entrepreneurship, Agglomeration and Technological Change," Small Business Economics, Springer, vol. 24(3), pages 323-334, 02. [Downloadable!] (restricted)
    Other versions:
  19. Zoltan Acs & Laszlo Szerb, 2007. "Entrepreneurship, Economic Growth and Public Policy," Small Business Economics, Springer, vol. 28(2), pages 109-122, March. [Downloadable!] (restricted)
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