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Growth and Entrepreneurship: An Empirical Assessment

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  • Acs, Zoltán J
  • Audretsch, David B
  • Braunerhjelm, Pontus
  • Carlsson, Bo

Abstract

This paper suggests that the spillover of knowledge may not occur automatically as has typically been assumed in models of endogenous growth. Rather, a mechanism is required that serves as a conduit for the spillover and commercialization of knowledge from the source creating it to the firm actually commercializing the new ideas. In this paper, entrepreneurship is identified as one such mechanism facilitating the spillover of knowledge. Using a panel of entrepreneurship data for 18 countries, empirical evidence is found that in addition to measures of R&D and human capital, entrepreneurial activity also serves to promote economic growth.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5409.

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Date of creation: Jan 2006
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Handle: RePEc:cpr:ceprdp:5409

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Keywords: entrepreneurship; growth;

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References

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  1. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  2. Schmitz, James A, Jr, 1989. "Imitation, Entrepreneurship, and Long-run Growth," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(3), pages 721-39, June.
  3. Audretsch, David B. & Keilbach, Max, 2002. "Entrepreneurship Capital and Economic Performance," ZEW Discussion Papers 02-76, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  4. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 16(1), pages 26-60, January.
  5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 22(1), pages 3-42, July.
  6. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 7(02), pages 149-159, November.
  7. Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1.
    • Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1.
  8. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(4), pages 808-27, August.
  9. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 103(4), pages 759-84, August.
  10. Mills, David E & Schumann, Laurence, 1985. "Industry Structure with Fluctuating Demand," American Economic Review, American Economic Association, vol. 75(4), pages 758-67, September.
  11. Zoltan J. Acs & Bo Carlsson & Pontus Braunerhjelm & David B. Audretsch, . "The Missing Link," Papers on Entrepreneurship, Growth and Public Policy, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group 2005-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  12. Jones, Charles I, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(2), pages 495-525, May.
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Citations

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Cited by:
  1. Sahar Bahmani & Miguel-Ángel Galindo & María Méndez, 2012. "Non-profit organizations, entrepreneurship, social capital and economic growth," Small Business Economics, Springer, Springer, vol. 38(3), pages 271-281, April.
  2. repec:dgr:uvatin:2009034 is not listed on IDEAS
  3. François Facchini, 2007. "Entrepreneur et croissance économique : développements récents," Revue d'économie industrielle, De Boeck Université, vol. 0(3), pages 3-3.
  4. Philip Auerswald, 2008. "Entrepreneurship in the Theory of the Firm," Small Business Economics, Springer, Springer, vol. 30(2), pages 111-126, February.
  5. Inci, Eren, 2006. "Success breeds success locally: a tale of incubator firms," ZEW Discussion Papers 06-71, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  6. Georgios Fotopoulos, 2012. "Nonlinearities in regional economic growth and convergence: the role of entrepreneurship in the European union regions," The Annals of Regional Science, Springer, Springer, vol. 48(3), pages 719-741, June.
  7. André van Stel & Roy Thurik & Chantal Hartog & Simon Parker, 2010. "The two-way relationship between entrepreneurship and economic performance," Scales Research Reports, EIM Business and Policy Research H200822, EIM Business and Policy Research.
  8. Edward Nissan & Maria-Soledad Castaño & Inmaculada Carrasco, 2012. "Drivers of non-profit activity: a cross-country analysis," Small Business Economics, Springer, Springer, vol. 38(3), pages 303-320, April.
  9. Bo Carlsson & Zoltan J. Acs & David B. Audretsch & Pontus Braunerhjelm, 2007. "The Knowledge Filter, Entrepreneurship, and Economic Growth," Jena Economic Research Papers 2007-057, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  10. Brunow, Stephan & Hirte, Georg, 2009. "Regional age structure and economic growth: an econometric study for German regions," Dresden Discussion Paper Series in Economics 04/09, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
  11. Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2006. "Chapter 3: Economic Growth in the European Union," EEAG Report on the European Economy, CESifo Group Munich, CESifo Group Munich, vol. 0, pages 68-88, 03.
  12. Mark Sanders, 2007. "Scientific Paradigms, Entrepreneurial Opportunities and Cycles in Economic Growth," Small Business Economics, Springer, Springer, vol. 28(4), pages 339-354, April.
  13. Hugo Erken & Piet Donselaar & Roy Thurik, 2008. "Total factor productivity and the role of entrepreneurship," Jena Economic Research Papers 2008-019, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  14. repec:dgr:uvatin:0000034 is not listed on IDEAS
  15. 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.
  16. Werner Bönte & Oliver Falck & Stephan Heblich, 2007. "Demography and Innovative Entrepreneurship," Jena Economic Research Papers 2007-084, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  17. Berthold, Norbert & Kullas, Matthias, 2006. "Unternehmer: der Treibstoff des Wachstumsmotors!," Wirtschaftswissenschaftliche Beiträge 89, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
  18. Vivarelli, Marco, 2012. "Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective," IZA Discussion Papers 6513, Institute for the Study of Labor (IZA).

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