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Exploiting Entrepreneurial Opportunities: The Impact of Entrepreneurship on Growth

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  • Pamela Mueller

Abstract

Knowledge is recognized as an important ingredient for economic growth in addition to physical capital and labor. While transforming knowledge into products and processes it is exploited commercially. Nevertheless, the existing knowledge stock and the absorptive capacity of actors like employees at firms and researchers at universities and research institutions are conditional for the ability to produce, identify, and exploit knowledge. Since incumbent firms do not exploit new knowledge to the full extent, realized entrepreneurial opportunities may arise. This paper tests the hypothesis whether or not entrepreneurship is an important vehicle for knowledge flows and economic growth. The empirical results indicate that an increase in innovative start-up activity is more effective than an increase in general entrepreneurship for economic growth. Copyright Springer Science+Business Media, LLC 2007

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  • Pamela Mueller, 2007. "Exploiting Entrepreneurial Opportunities: The Impact of Entrepreneurship on Growth," Small Business Economics, Springer, vol. 28(4), pages 355-362, April.
    • Handle: RePEc:kap:sbusec:v:28:y:2007:i:4:p:355-362
    DOI: 10.1007/s11187-006-9035-9
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    More about this item

    Keywords

    Regional growth; knowledge; entrepreneurship; L26; M13; O18; O31;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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