Entrepreneurship has long been seen as a key driving force of a free market economy. Modern definitions of entrepreneurship emphasise a strong link between entrepreneurship and innovation and distinguish entrepreneurship from simple form of management. Entrepreneurship is also seen as a critical link between new knowledge and economic growth as it facilitates the transfer of knowledge. In the absence of internationally comparable indicators that capture the real innovative nature of entrepreneurship it is difficult to draw firm conclusions about the true level of entrepreneurial activity in Australia or any other country. Given the likely effect of entrepreneurship on economic growth, indicators that capture its innovative nature will be important for good policy outcomes in a small open economy like Australia.
Volume (Year): (2008)
Issue (Month): 1 (March)
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- Romer, Paul M, 1986.
"Increasing Returns and Long-run Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 94(5), pages 1002-37, October.
- Steven Vale, 2006. "The International comparability of Business Start-up Rates Final Report," OECD Statistics Working Papers 2006/4, OECD Publishing.
- David B. Audretsch, 2007. "Entrepreneurship capital and economic growth," Oxford Review of Economic Policy, Oxford University Press, vol. 23(1), pages 63-78, Spring.
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