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The effect of entrepreneurship on economic development—an empirical analysis using regional entrepreneurship culture

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  • Michael Fritsch
  • Michael Wyrwich

Abstract

We use the historical self-employment rate as an indicator of a regional culture of entrepreneurship and take it as an instrument to analyze the effect of entrepreneurship on economic growth in recent periods. The results indicate that German regions with a high level of entrepreneurship in the mid-1920s have higher start-up rates about 50 years later. Thus, a regional culture of entrepreneurship is an important resource for the persistence of entrepreneurship. Furthermore, we find that there is a significant effect of start-up activity on regional employment growth when using entrepreneurship culture as instrument for start-up activity.

Suggested Citation

  • Michael Fritsch & Michael Wyrwich, 2017. "The effect of entrepreneurship on economic development—an empirical analysis using regional entrepreneurship culture," Journal of Economic Geography, Oxford University Press, vol. 17(1), pages 157-189.
  • Handle: RePEc:oup:jecgeo:v:17:y:2017:i:1:p:157-189.
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    File URL: http://hdl.handle.net/10.1093/jeg/lbv049
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    More about this item

    Keywords

    Entrepreneurship; economic development; self-employment; new business formation; entrepreneurship culture; institutions;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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