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Entrepreneurial Efficiency

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  • Katsuya Takii

    (Osaka School of International Public Policy, Osaka University)

Abstract

This paper examines a particular aspect of entrepreneurship, namely firms' ability to respond appropriately to unexpected changes in the environment (i.e., their adaptability). An increase in firms' adaptability improves allocative efficiency in a competitive economy, but can reduce it when opportunities are distorted. It is shown that adaptability can aggravate distortions in the presence of political risk. Because efficiency affects the total factor productivity (TFP) of an economy, the model can explain how entrepreneurship influences TFP. The quantitative effect of firms' adaptability on TFP is investigated using the Census of Manufacturing in Japan.

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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0406007.

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Date of creation: 06 Jun 2004
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Handle: RePEc:wpa:wuwpma:0406007

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Cited by:
  1. Katsuya Takii, 2004. "Fiscal Policy and Entrepreneurship," Econometric Society 2004 North American Summer Meetings 320, Econometric Society.
  2. Katsuya Takii, 2011. "Entrepreneurial Efficiency: Theory," The Japanese Economic Review, Japanese Economic Association, vol. 62(2), pages 196-214, 06.
  3. Katsuya Takii, 2004. "Entrepreneurial Efficiency: An Empirical Framework and Evidence," Macroeconomics 0411006, EconWPA.

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