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An Empirical Analysis of the Link between Entrepreneurship and Economic Growth in West Virginia

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Author Info

  • Maribel Mojica

    ()
    (Division of Resource Management, West Virginia University)

  • Tesfa Gebremedhin

    ()
    (Division of Resource Management, West Virginia University)

  • Peter Schaeffer

    ()
    (Division of Resource Management, West Virginia University)

Abstract

Entrepreneurship variables constructed from county-level proprietorship and firm birth data were included in an endogenous growth model to determine the relationship between entrepreneurship and economic growth in West Virginia. The empirical estimates using weighted least squares (WLS) and 2-stage least squares (2SLS) regressions generally show empirical evidence regarding the positive contribution of entrepreneurial activity to economic growth. Counties with more proprietors and business start ups exhibited higher growths in population and employment growth compared to less entrepreneurial counties. However, none of the entrepreneurship variables used in the study is statistically significant in determining per capita income growth.

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Bibliographic Info

Paper provided by Regional Research Institute, West Virginia University in its series Working Papers with number 200902.

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Length: 21 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:rri:wpaper:200902

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Postal: 886 Chestnut Ridge Road, P.O. Box 6825, Morgantown, WV 26506-6825
Phone: 304 293 2896
Fax: 304 293 6699
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Web page: http://rri.wvu.edu/research/working-papers/
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Keywords: entrepreneurship; economic growth; West Virginia; weighted least squares; 2-stage least squares;

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  1. Michael Fritsch & Pamela Mueller, 2004. "Effects of New Business Formation on Regional Development over Time," Regional Studies, Taylor & Francis Journals, vol. 38(8), pages 961-975.
  2. Acs, Zoltan J. & Armington, Catherine, 2004. "The impact of geographic differences in human capital on service firm formation rates," Journal of Urban Economics, Elsevier, vol. 56(2), pages 244-278, September.
  3. Acs, Zoltan J & Audretsch, David B, 1987. "Innovation, Market Structure, and Firm Size," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 567-74, November.
  4. David Audretsch & Max Keilbach, 2005. "Entrepreneurship capital and regional growth," The Annals of Regional Science, Springer, vol. 39(3), pages 457-469, 09.
  5. Zoltan Acs, 2006. "How Is Entrepreneurship Good for Economic Growth?," Innovations: Technology, Governance, Globalization, MIT Press, vol. 1(1), pages 97-107, March.
  6. Michael Fritsch & Pamela Mueller, 2004. "The Effects of New Business Formation on Regional Development over Time," Papers on Entrepreneurship, Growth and Public Policy 2004-36, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  7. Antonio Ciccone & Robert E. Hall, 1995. "Productivity and the density of economic activity," Economics Working Papers 120, Department of Economics and Business, Universitat Pompeu Fabra.
  8. Audretsch, David B. & Keilbach, Max C. & Lehmann, Erik E., 2006. "Entrepreneurship and Economic Growth," OUP Catalogue, Oxford University Press, number 9780195183511, October.
  9. Steven C. Deller & Tsung-Hsiu (Sue) Tsai & David W. Marcouiller & Donald B.K. English, 2001. "The Role of Amenities and Quality of Life In Rural Economic Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 352-365.
  10. Stephan J. Goetz & David Freshwater, 2001. "State-Level Determinants of Entrepreneurship and a Preliminary Measure of Entrepreneurial Climate," Economic Development Quarterly, , vol. 15(1), pages 58-70, February.
  11. Deller, Steven C., 2007. "The Role of Microenterprises in Economic Growth: A Panel Study of Wisconsin Counties 1977 to 1997," Staff Paper Series 514, University of Wisconsin, Agricultural and Applied Economics.
  12. Thorsten Beck & Asli Demirgüç-Kunt, 2004. "SMEs, Growth, and Poverty," World Bank Other Operational Studies 11278, The World Bank.
  13. Maria Minniti, 1999. "Entrepreneurial activity and economic growth," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 1(1), pages 31-42.
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