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Entrepreneurial Culture and Economic Growth

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  • Sjoerd Beugelsdijk
  • Roger Smeets

Abstract

We reestimate McClelland's (1961) thesis on entrepreneurial culture and economic development. McClelland found a strong positive correlation between measures of need for achievement ("N" achievement) imagery in school textbooks and the subsequent rate of economic growth. Benchmarking our findings against generally accepted empirical growth models, we find no support for his thesis. This leads us to rethink the relationship between entrepreneurial culture and economic growth. Copyright © 2008 American Journal of Economics and Sociology, Inc..

Suggested Citation

  • Sjoerd Beugelsdijk & Roger Smeets, 2008. "Entrepreneurial Culture and Economic Growth," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(5), pages 915-939, November.
  • Handle: RePEc:bla:ajecsc:v:67:y:2008:i:5:p:915-939
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    Cited by:

    1. repec:eee:rujoec:v:1:y:2015:i:3:p:294-312 is not listed on IDEAS
    2. Petrik Runst, 2013. "Post-Socialist Culture and Entrepreneurship," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(3), pages 593-626, July.

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