We estimate the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and high-growth firms (firms that have actually realized high growth rates) on subsequent macroeconomic growth for a sample of countries participating in the Global Entrepreneurship Monitor between 2002-2005. We find that ambitious entrepreneurship has a positive impact on macroeconomic growth. This effect is stronger than that of entrepreneurship in general. Surprisingly, this effect of ambitious entrepreneurship is stronger in low-income countries than in high-income countries. Established high-growth firms do not seem to drive macroeconomic growth.
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Paper provided by EIM Business and Policy Research in its series Scales Research Reports with number
H200911.