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The management function of entrepreneurs and countries’ productivity growth

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  • Vicente Salas-Fumás
  • J. Javier Sanchez-Asin

Abstract

This article examines the determinants of the equilibrium number of entrepreneurs and the level of productivity in economies where individuals make occupational choices between being self-employed or working as an employee. The results of the theoretical model explain some observed empirical regularities, such as the negative association between productivity and self-employment rates in cross-country data. The article also derives and empirically tests an unexplored relationship between entrepreneurship and economic growth, in the form of a positive association between productivity growth in t and the proportion of the self-employed in t − 1, providing a new perspective on cross-country productivity convergence over time.

Suggested Citation

  • Vicente Salas-Fumás & J. Javier Sanchez-Asin, 2013. "The management function of entrepreneurs and countries’ productivity growth," Applied Economics, Taylor & Francis Journals, vol. 45(17), pages 2349-2360, June.
  • Handle: RePEc:taf:applec:45:y:2013:i:17:p:2349-2360
    DOI: 10.1080/00036846.2012.663476
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    File URL: http://hdl.handle.net/10.1080/00036846.2012.663476
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    References listed on IDEAS

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    1. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    2. Parker,Simon C., 2006. "The Economics of Self-Employment and Entrepreneurship," Cambridge Books, Cambridge University Press, number 9780521030632, May.
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    Cited by:

    1. Luis Medrano-Adán & Vicente Salas-Fumás & J. Sanchez-Asin, 2015. "Heterogeneous entrepreneurs from occupational choices in economies with minimum wages," Small Business Economics, Springer, vol. 44(3), pages 597-619, March.

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