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A Model of the Entrepreneurial Economy

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  • David Audretsch

    ()

  • Roy Thurik

    ()

Abstract

The present paper deals with the distinction between the models of the managed and entrepreneurial economies. It explains why the model of the entrepreneurial economy may be a better frame of reference than the model of the managed economy in the contemporary, developed economies. This is done by contrasting the most fundamental elements of the managed economy model with those of the entrepreneurial economy model. Building upon Audretsch and Thurik (2000 and 2001), Audretsch, Thurik, Verheul and Wennekers (2002) and Thurik and Verheul (2003), fourteen dimensions are identified as the basis for comparing models of the entrepreneurial and the managed economy.

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Bibliographic Info

Paper provided by Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group in its series Papers on Entrepreneurship, Growth and Public Policy with number 2004-12.

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Length: 17 pages
Date of creation: Mar 2004
Date of revision:
Handle: RePEc:esi:egpdis:2004-12

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References

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  4. Jaffe, A.B. & Trajtenberg, M., 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," Papers 14-92, Tel Aviv.
  5. David B. Audretsch & A. Roy Thurik, 1999. "Innovation, Industry Evoluation and Employment," Tinbergen Institute Discussion Papers 99-068/3, Tinbergen Institute.
  6. D.B. Audretsch & M.A. Carree & A.R. Thurik, 2001. "Does Entrepreneurship reduce Unemployment?," Tinbergen Institute Discussion Papers 01-074/3, Tinbergen Institute, revised 24 Oct 2008.
  7. Zoltan Acs & David Audretsch, 1990. "Innovation and Small Firms," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011131, December.
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  12. Niels Bosma & Jolanda Hessels & Veronique Schutjens & Mirjam van Praag & Ingrid Verheul, 2011. "Entrepreneurship and Role Models," Tinbergen Institute Discussion Papers 11-061/3, Tinbergen Institute.
  13. 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.
  14. Carlsson, Bo & Taymaz, Erol, 1994. " Flexible Technology and Industrial Structure in the U.S," Small Business Economics, Springer, vol. 6(3), pages 193-209, June.
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  17. David Audretsch & Roy Thurik, 0000. "Sources of Growth," Tinbergen Institute Discussion Papers 97-109/3, Tinbergen Institute.
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  19. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  20. David B. Audretsch & A. Roy Thurik, 2000. "Capitalism and democracy in the 21st Century: from the managed to the entrepreneurial economy," Journal of Evolutionary Economics, Springer, vol. 10(1), pages 17-34.
  21. Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
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  24. Roy Thurik & Sander Wennekers & Ingrid Verheul & David Audretsch, 2001. "An eclectic theory of entrepreneurship: policies, institutions and culture," Scales Research Reports H200012, EIM Business and Policy Research.
  25. Brown, Charles & Medoff, James, 1989. "The Employer Size-Wage Effect," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1027-59, October.
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  28. Andr� van Stel & Roy Thurik & Ingrid Verheul & Lendert Baljeu, 2007. "The Relationship between Entrepreneurship and Unemployment in Japan," Tinbergen Institute Discussion Papers 07-080/3, Tinbergen Institute, revised 14 Jul 2008.
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  31. Ingrid Verheul, 2003. "Commitment or control?," Scales Research Reports N200306, EIM Business and Policy Research.
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