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Entrepreneurial Diversity and Economic Growth


  • Verheul, I.
  • van Stel, A.J.


Most studies investigating the relationship between entrepreneurship and economic growth treat entrepreneurs as a homogeneous group. This study investigates the impact of entrepreneurial diversity on national economic growth. Using data for 36 countries participating in the Global Entrepreneurship Monitor we investigate whether the impact on growth depends on socio-demographic diversity in entrepreneurship (in terms of age, education and gender). We find that in less developed countries older and higher educated entrepreneurs are particularly important for stimulating economic growth, while for developed countries younger entrepreneurs are more important. Accordingly, policy should aim at stimulating particular groups of entrepreneurs, rather than just the number of entrepreneurs.

Suggested Citation

  • Verheul, I. & van Stel, A.J., 2007. "Entrepreneurial Diversity and Economic Growth," ERIM Report Series Research in Management ERS-2007-070-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  • Handle: RePEc:ems:eureri:10619

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    References listed on IDEAS

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    Cited by:

    1. André van Stel & Werner Liebregts & Nardo de Vries, 2013. "Explaining entrepreneurial performance of solo self-employed from a motivational perspective," Scales Research Reports H201308, EIM Business and Policy Research.
    2. Crecente-Romero, Fernando & Giménez-Baldazo, Mónica & Rivera-Galicia, Luis F., 2016. "Subjective perception of entrepreneurship. Differences among countries," Journal of Business Research, Elsevier, vol. 69(11), pages 5158-5162.
    3. André van Stel & Sander Wennekers & Jolanda Hessels & Peter van der Zwan, 2012. "Global Entrepreneurship Monitor 2011 The Netherlands," Scales Research Reports A201211, EIM Business and Policy Research.
    4. Bögenhold, Dieter & Fachinger, Uwe, 2013. "Weibliche Solo-Selbstständigkeit zwischen Notwendigkeit und Innovationsherausforderung: Beobachtungen über Geschlecht und Unternehmertum in Deutschland
      [Female Solo-Self-Employment Between Necessit
      ," MPRA Paper 51460, University Library of Munich, Germany.
    5. Tatiana Tsyganova & Galina Shirokova, 2010. "Gender Differences In Entrepreneurship: Evidence From Gem Data," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 1(1).
    6. Massón Guerra, José Luis, 2007. "El capital empresarial como determinante de la productividad y el crecimiento en España
      [The Impact of Entrepreneurship Capital on Spanish's Labor Productivity and Economic Growth]
      ," MPRA Paper 4073, University Library of Munich, Germany.
    7. Bögenhold, Dieter & Heinonen, Jarna & Akola, Elisa, 2013. "Entrepreneurship and Independent Professionals: Why do Professionals not meet with Stereotypes of Entrepreneurship?," MPRA Paper 51529, University Library of Munich, Germany.
    8. Bögenhold, Dieter & Fachinger, Uwe, 2010. "How Diverse is Entrepreneurship? Observations on the social heterogeneity of self-employment in Germany," MPRA Paper 23271, University Library of Munich, Germany.
    9. Bögenhold, Dieter & Fachinger, Uwe, 2012. "Unternehmertum: Unterschiedliche Facetten selbstständiger Berufstätigkeit
      [Entrepreneurship: Diverse aspects of self-employment]
      ," MPRA Paper 51459, University Library of Munich, Germany.

    More about this item


    diversity; economic development; entrepreneurship;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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