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Growth and Entrepreneurship: An Empirial Assessment

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  • Zoltan J. Acs
  • David B. Audretsch

    ()

  • Pontus Braunerhjelm
  • Bo Carlsson

Abstract

This paper suggests that the spillover of knowledge may not occur automatically as has typically been assumed in models of endogenous growth. Rather, a mechanism is required that serves as a conduit for the spillover and commercialization of knowledge from the source creating it to the firm actually commercializing the new ideas. In this paper, entrepreneurship is identified as one such mechanism facilitating the spillover of knowledge. Using a panel of entrepreneurship data for 18 countries, empirical evidence is found that in addition to measures of R&D and human capital, entrepreneurial activity also serves to promote economic growth.

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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 2005-32.

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Length: 30 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:esi:egpdis:2005-32

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Keywords: Entrepreneurship; Growth;

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References

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  1. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
  2. David B. Audretsch & Max Keilbach, 2004. "Entrepreneurship Capital and Economic Performance," Papers on Entrepreneurship, Growth and Public Policy 2004-01, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  3. Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1, May.
    • Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1, May.
  4. Zoltan J. Acs & Bo Carlsson & Pontus Braunerhjelm & David B. Audretsch, . "The Missing Link," Papers on Entrepreneurship, Growth and Public Policy 2005-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
  6. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, vol. 7(02), pages 149-159, November.
  7. Mills, David E & Schumann, Laurence, 1985. "Industry Structure with Fluctuating Demand," American Economic Review, American Economic Association, vol. 75(4), pages 758-67, September.
  8. Blanchflower, D.G. & Oswald, A., 1991. "What Makes an Entrepreneur?," Economics Series Working Papers 99125, University of Oxford, Department of Economics.
  9. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August.
  10. Schmitz, James A, Jr, 1989. "Imitation, Entrepreneurship, and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 721-39, June.
  11. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  12. Jones, Charles I, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 495-525, May.
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Citations

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Cited by:
  1. repec:hal:cesptp:hal-00270436 is not listed on IDEAS
  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.
  3. Inci, Eren, 2006. "Success breeds success locally: a tale of incubator firms," ZEW Discussion Papers 06-71, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  4. André van Stel & Roy Thurik & Chantal Hartog & Simon Parker, 2010. "The two-way relationship between entrepreneurship and economic performance," Scales Research Reports H200822, EIM Business and Policy Research.
  5. Vivarelli, Marco, 2012. "Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective," IZA Discussion Papers 6513, Institute for the Study of Labor (IZA).
  6. Mark Sanders, 2007. "Scientific Paradigms, Entrepreneurial Opportunities and Cycles in Economic Growth," Small Business Economics, Springer, vol. 28(4), pages 339-354, April.
  7. Hugo Erken & Piet Donselaar & Roy Thurik, 0000. "Total Factor Productivity and the Role of Entrepreneurship," Tinbergen Institute Discussion Papers 09-034/3, Tinbergen Institute.
  8. repec:dgr:uvatin:0000034 is not listed on IDEAS
  9. Brunow, Stephan & Hirte, Georg, 2009. "Regional age structure and economic growth: an econometric study for German regions," Dresden Discussion Paper Series in Economics 04/09, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
  10. Hugo Erken & Piet Donselaar & Roy Thurik, 2008. "Total factor productivity and the role of entrepreneurship," Jena Economic Research Papers 2008-019, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  11. Werner Bönte & Oliver Falck & Stephan Heblich, 2007. "Demography and Innovative Entrepreneurship," Jena Economic Research Papers 2007-084, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  12. Sahar Bahmani & Miguel-Ángel Galindo & María Méndez, 2012. "Non-profit organizations, entrepreneurship, social capital and economic growth," Small Business Economics, Springer, vol. 38(3), pages 271-281, April.
  13. Georgios Fotopoulos, 2012. "Nonlinearities in regional economic growth and convergence: the role of entrepreneurship in the European union regions," The Annals of Regional Science, Springer, vol. 48(3), pages 719-741, June.
  14. Philip Auerswald, 2008. "Entrepreneurship in the Theory of the Firm," Small Business Economics, Springer, vol. 30(2), pages 111-126, February.
  15. Berthold, Norbert & Kullas, Matthias, 2006. "Unternehmer: der Treibstoff des Wachstumsmotors!," Wirtschaftswissenschaftliche Beiträge 89, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
  16. Carlsson, Bo & Acs, Zoltan & Audretsch, David & Braunerhjelm, Pontus, 2007. "The knowledge filter, Entrepreneurship and Economic Growth," Working Paper Series in Economics and Institutions of Innovation 104, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  17. Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2006. "Chapter 3: Economic Growth in the European Union," EEAG Report on the European Economy, CESifo Group Munich, vol. 0, pages 68-88, 03.
  18. Edward Nissan & Maria-Soledad Castaño & Inmaculada Carrasco, 2012. "Drivers of non-profit activity: a cross-country analysis," Small Business Economics, Springer, vol. 38(3), pages 303-320, April.
  19. François Facchini, 2007. "Entrepreneur et croissance économique : développements récents," Revue d'économie industrielle, De Boeck Université, vol. 0(3), pages 3-3.

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