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Entrepreneurship, Structural Change and a Global Economic Crisis

  • Gries Thomas

    (University of Paderborn)

  • Naude Wim

    (United Nations University and Maastricht School of Management)

Building on a Lewis-type model of structural change and entrepreneurship we illustrate how a global economic crisis consisting of a financial and a trade shock can undermine structural change in developing countries via the start-up and innovation activities of entrepreneurs. The model analytics identifies a number of challenges for structural change in a post-crisis world, including dealing with greater bank concentration, higher costs of bank monitoring and stricter regulations and collateral requirements, flights-to-safety in global finance and reduced incentives for innovation and job-creating start-up activities.

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Article provided by De Gruyter in its journal Entrepreneurship Research Journal.

Volume (Year): 1 (2011)
Issue (Month): 3 (July)
Pages: 1-43

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Handle: RePEc:bpj:erjour:v:1:y:2011:i:3:n:4
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