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Entrepreneurship, structural change, and economic growth

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  • Florian Noseleit

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Abstract

The ability to adjust to structural change is vital to economic development, and entries can be active participants in this process. While the importance of factor reallocations for growth is widely accepted, the role of entrepreneurs in managing these reallocations is rarely, if ever, mentioned in the empirical growth literature. This paper analyzes the role of entrepreneurial activity for adjustments of the sectoral structure and its relevance for regional economic development. The historical framework is the accelerated economic transformation that occurred in industrialized countries during the mid 1970s, resulting in an increasing need to adjust. Based on German data from 1975 to 2002, evidence is presented that sectoral reallocations are an important means for transforming entrepreneurial activity into growth.

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Bibliographic Info

Paper provided by Utrecht University, Section of Economic Geography in its series Papers in Evolutionary Economic Geography (PEEG) with number 1104.

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Length: 44 pages
Date of creation: Jan 2011
Date of revision: Jan 2011
Handle: RePEc:egu:wpaper:1104

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Keywords: Entrepreneurship; new business formation; regional development; structural change;

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Cited by:
  1. 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.
  2. 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.

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