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Modelling Entrepreneurship: unifying the equilibrium and entry/exit approach

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  • Gerrit de Wit
  • Niels Bosma
  • Martin Carree

Abstract

Two approaches can be distinguished with respect to modelling entrepreneurship: (i) the approach focusing on the net development of the number of entrepreneurs in an equilibrium framework and (ii) the approach focusing on the entries and exits of entrepreneurs. In this paper we unify these approaches to arrive at a model explaining the equilibrium and actual number of entrepreneurs and the entry and exit rate of entrepreneurs simultaneously and consistently. We applied our unified approach to the Netherlands, using self-employment data for the 1960-99 period. We found error-correction of about 20% per year and a very different situation in terms of disequilibrium before and after the early 1980s. Periods of high unemployment appear to be characterised by both high entry and high exit rates.

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Bibliographic Info

Paper provided by EIM Business and Policy Research in its series Scales Research Reports with number N200201.

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Length: 22 pages
Date of creation: 01 Feb 2002
Date of revision:
Handle: RePEc:eim:papers:n200201

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Cited by:
  1. André van Stel & Roy Thurik & Andrew Burke, 2008. "Investigating Blue Ocean v. Competitive Strategy: A Statistical Analysis of the Retail Industry," Scales Research Reports, EIM Business and Policy Research H200801, EIM Business and Policy Research.
  2. André van Stel & Andrew Burke, 2008. "The Entrepreneurial Adjustment Process in Disequilibrium," Scales Research Reports, EIM Business and Policy Research H200809, EIM Business and Policy Research.
  3. Gries, Thomas & Naude, Wim, 2008. "Entrepreneurship and Regional Economic Growth: Towards A General Theory of Start-Ups," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2008/70, World Institute for Development Economic Research (UNU-WIDER).
  4. Katharina Pijnenburg, 2013. "Self-Employment and Economic Performance: A Geographically Weighted Regression Approach for European Regions," Discussion Papers of DIW Berlin 1272, DIW Berlin, German Institute for Economic Research.
  5. Braunerhjelm, Pontus, 2010. "Entrepreneurship, Innovation and Economic Growth - past experience, current knowledge and policy implications," Working Paper Series in Economics and Institutions of Innovation 224, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  6. Gries, Thomas & Naude, Wim, 2009. "When to Start a New Firm?: Modelling the Timing of Novice and Serial Entrepreneurs," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  7. Burke, A.E. & van Stel, A.J. & Thurik, A.R., 2009. "Blue Ocean versus Competitive Strategy: Theory and Evidence," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2009-030-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  8. Naude, Wim, 2008. "Entrepreneurship in Economic Development," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2008/20, World Institute for Development Economic Research (UNU-WIDER).
  9. Andrew Burke & Andr� van Stel, 2009. "The Entrepreneurial Adjustment Process in Disequilibrium," Tinbergen Institute Discussion Papers 09-005/3, Tinbergen Institute.

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