Ambitious entrepreneurship, high-growth firms and macroeconomic growth
AbstractWe examine 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 in a sample of high and low-income countries, in the period 2002-2005. Our empirical evidence shows that once we control for the share of ambitious entrepreneurs the overall positive effect of entrepreneurship on macroeconomic growth disappears. Growthoriented entrepreneurship seems to contribute heavily to macroeconomic growth in both low- and high-income countries. In low-income countries, the overall positive effect of entrepreneurship on macroeconomic growth does not disappear after introducing the share of ambitious entrepreneurs into the statistical model. In contrast to ambitious entrepreneurship in nascent and young businesses, established high-growth firms do not seem to contribute to macroeconomic growth.These established high-growth firms seem to flourish in countries with high levels of entrepreneurship in general, while there appears to be no connection between the rate of high-growth firms and the share of ambitious entrepreneurs. �
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Bibliographic InfoPaper provided by EIM Business and Policy Research in its series Scales Research Reports with number H200911.
Length: 17 pages
Date of creation: 02 Feb 2010
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-03 (All new papers)
- NEP-BEC-2009-10-03 (Business Economics)
- NEP-CSE-2009-10-03 (Economics of Strategic Management)
- NEP-ENT-2009-10-03 (Entrepreneurship)
- NEP-FDG-2009-10-03 (Financial Development & Growth)
- NEP-SBM-2009-10-03 (Small Business Management)
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