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Could the Irish Miracle be Repeated in Hungary?

Author

Listed:
  • Zoltan Acs

    ()

  • Colm O’Gorman

    ()

  • Laszlo Szerb

    ()

  • Siri Terjesen

    ()

Abstract

It is widely recognized that Foreign Direct Investment (FDI) plays an important role in economic development. However, its impact on entrepreneurial activity has not been well researched. Internalization theory is used to explore how inward FDI impacts entrepreneurial activity. Using data from Global Entrepreneurship Monitor (GEM), we find significant differences in entrepreneurial activity between Ireland and Hungary in both the type of people starting businesses and the opportunities pursued. Economic development policies should focus on increasing human capital, promoting enterprise development, and upgrading the quality of FDI. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Zoltan Acs & Colm O’Gorman & Laszlo Szerb & Siri Terjesen, 2007. "Could the Irish Miracle be Repeated in Hungary?," Small Business Economics, Springer, vol. 28(2), pages 123-142, March.
  • Handle: RePEc:kap:sbusec:v:28:y:2007:i:2:p:123-142
    DOI: 10.1007/s11187-006-9027-9
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    References listed on IDEAS

    as
    1. Zoltán Ács & Attila Varga, 2005. "Entrepreneurship, Agglomeration and Technological Change," Small Business Economics, Springer, vol. 24(3), pages 323-334, February.
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    3. O'Malley, Eoin, 2004. "Competitive Performance in Irish Industry," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2004(4-Winter), pages 66-101.
    4. Holger Gorg & Frances Ruane, 2001. "Multinational Companies and Linkages: Panel-Data Evidence for the Irish Electronics Sector," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(1), pages 1-18.
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    8. Zoltan J. Acs & Siri Terjesen, 2007. "Born Local: Two Avenues to Internationalization," Jena Economic Research Papers 2007-022, Friedrich-Schiller-University Jena.
    9. Holger Görg & Eric Strobl, 2016. "Multinational companies and indigenous development: An empirical analysis," World Scientific Book Chapters,in: MULTINATIONAL ENTERPRISES AND HOST COUNTRY DEVELOPMENT, chapter 17, pages 305-322 World Scientific Publishing Co. Pte. Ltd..
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      [Foreign direct investment - in crisis?]
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    12. Colm O'Gorman & Siri Terjesen, 2005. "Financing the Celtic Tigress: Venture financing and informal investment in Ireland," Venture Capital, Taylor & Francis Journals, vol. 8(1), pages 69-88, September.
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Entrepreneurial activity; economic development; foreign direct investment; knowledge spillovers; Ireland; Hungary; L26; M13; F23; O57;

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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