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Entrepreneurship capital types and economic growth: International evidence

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  • Urbano, David
  • Aparicio, Sebastian

Abstract

This paper analyzes the effect of entrepreneurship capital types on economic growth. We use an augmented Cobb–Douglas production function, which introduces variables such as entrepreneurship capital into the analysis of growth as endogenous factor. We differentiate our work from the previous studies by using panel data analysis, with 43 countries in the period from 2002 to 2012, and different measures of entrepreneurship capital. Our estimations suggest that these measures have a positive effect on economic growth, specifically overall TEA and opportunity TEA. Distinguishing between groups of countries and periods of time, we find that overall TEA has a greater effect on economic growth in OECD countries and in the post-crisis period for all the countries in our sample. These results suggest new elements to both theoretical discussion and public policy focusing on entrepreneurship capital as an important factor to achieve economic growth.

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  • Urbano, David & Aparicio, Sebastian, 2016. "Entrepreneurship capital types and economic growth: International evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 34-44.
  • Handle: RePEc:eee:tefoso:v:102:y:2016:i:c:p:34-44
    DOI: 10.1016/j.techfore.2015.02.018
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    Cited by:

    1. Dhahri, Sabrine & Omri, Anis, 2018. "Entrepreneurship contribution to the three pillars of sustainable development: What does the evidence really say?," World Development, Elsevier, vol. 106(C), pages 64-77.
    2. A.V. Sultanova & O.S. Chechina, 2016. "Human Capital as a Key Factor of Economic Growth in Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 71-78.
    3. repec:eee:tefoso:v:123:y:2017:i:c:p:271-282 is not listed on IDEAS
    4. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2017. "Technology and Business Cycles: A Schumpeterian Investigation for the USA," MPRA Paper 80636, University Library of Munich, Germany.
    5. repec:eee:tefoso:v:127:y:2018:i:c:p:271-280 is not listed on IDEAS
    6. David Urbano & Sebastian Aparicio & Victor Querol, 2016. "Social progress orientation and innovative entrepreneurship: an international analysis," Journal of Evolutionary Economics, Springer, vol. 26(5), pages 1033-1066, December.
    7. Rybak, Aurelia & Rybak, Aleksandra, 2016. "Possible strategies for hard coal mining in Poland as a result of production function analysis," Resources Policy, Elsevier, vol. 50(C), pages 27-33.

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