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Types of Entrepreneurship and Economic Growth

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  • Stam, Erik

    ()
    (Utrecht School of Economics)

  • Stel, Andre van

    ()
    (EIM Business and Policy Research, Amsterdam Center for Entrepreneurship)

Abstract

In this paper, we empirically investigate the effect of entrepreneurship on economic growth at the country level. We use data from the Global Entrepreneurship Monitor, which provides comparative data on entrepreneurship from a wide range of countries. An important element of this paper is that we compare the effects of entrepreneurial activity on economic growth in high income, transition and low income countries. This dataset also enables us to make a distinction between the effects of entrepreneurship in general and growth-oriented entrepreneurship in particular. We present empirical tests of the impact of entrepreneurial activity on GDP growth over a four year period for a sample of 36 countries. Our empirical analyses suggest that entrepreneurship does not have an effect on economic growth in low income countries, in contrast to transition and high income countries where especially growth-oriented entrepreneurship seems to contribute strongly to macroeconomic growth

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Bibliographic Info

Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 049.

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Date of creation: 2009
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Handle: RePEc:unm:unumer:2009049

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Keywords: entrepreneurship; growth-oriented entrepreneurship; economic growth;

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References

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  1. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
  2. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-83, May.
  3. 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.
  4. Ricardo Hausmann & Dani Rodrik, 2002. "Economic Development as Self-Discovery," NBER Working Papers 8952, National Bureau of Economic Research, Inc.
  5. Djankov, Simeon & Qian, Yingyi & Roland, Gérard & Zhuravskaya, Ekaterina, 2006. "Entrepreneurship in China and Russia Compared," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5705, C.E.P.R. Discussion Papers.
  6. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(5), pages 893-921, October.
  7. Thomas Gries & Wim Naudé, 2010. "Entrepreneurship and structural economic transformation," Small Business Economics, Springer, Springer, vol. 34(1), pages 13-29, January.
  8. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, Econometric Society, vol. 37(3), pages 424-38, July.
  9. Carol Graham, 2005. "Insights on Development from the Economics of Happiness," World Bank Research Observer, World Bank Group, World Bank Group, vol. 20(2), pages 201-231.
  10. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 16(1), pages 26-60, January.
  11. Mohapatra, Sandeep & Rozelle, Scott & Goodhue, Rachael, 2007. "The Rise of Self-Employment in Rural China: Development or Distress?," World Development, Elsevier, vol. 35(1), pages 163-181, January.
  12. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 46(02), pages 385-406, June.
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Cited by:
  1. Leitão, João & Ferreira, João, 2007. "Liberalization of European Telecommunications and Entrepreneurship: Why German and Portuguese Experiences are so Equal and so Different?," MPRA Paper 5728, University Library of Munich, Germany.
  2. Jolanda Hessels, 2008. "International Entrepreneurship: An Introduction, Framework and Research Agenda," Scales Research Reports, EIM Business and Policy Research H200823, EIM Business and Policy Research.
  3. Okamuro, Hiroyuki & Kato, Masatoshi & Honjo, Yuji, 2009. "Determinants of R&D cooperation in Japanese high-tech start-ups," CEI Working Paper Series, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University 2009-07, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
  4. Jolanda Hessels & André Stel, 2011. "Entrepreneurship, export orientation, and economic growth," Small Business Economics, Springer, Springer, vol. 37(2), pages 255-268, September.
  5. André van Stel & J. Cieslik Cieslik, 2014. "Trends in Business Ownership in Central and East European Transition Economies," Scales Research Reports, EIM Business and Policy Research H201202, EIM Business and Policy Research.
  6. José L. González-Pernía & Iñaki Peña-Legazkue, 2011. "The impact of export-oriented entrepreneurship on regional economic growth," ERSA conference papers ersa11p1526, European Regional Science Association.

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