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The Entrepreneurship-Philanthropy Nexus: Implication for Internationalization

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  • Zoltan J. Acs
  • Pontus Braunerhjelm

Abstract

This paper examines how Sweden and the United States have been impacted by philanthropic activities, commercialization of university-based knowledge and international entrepreneurship. The analysis comprises a detailed case study of Swedish and U.S. universities, as well as a statistical analysis of the impact of philanthropy on economic growth. The results show that the United States has prompted a university system based on competition and variety, with an emphasis on philanthropy, promoting knowledge creation. International entrepreneurship has been an important mechanism by which this knowledge is globalized leading to increased economic growth. Conversely, Swedish universities were characterized by less commercialized R&D and weak links to the commercial sector, rooted traditionally in dependence on tax -financed and homogenous university structure. The Swedish model has begun to change with important implications for development in smaller domestic markets. The analysis has important implications for knowledge creation as a source of economic growth through international entrepreneurship taking advantage of globalization, especially for smaller countries.

Suggested Citation

  • Zoltan J. Acs & Pontus Braunerhjelm, 2004. "The Entrepreneurship-Philanthropy Nexus: Implication for Internationalization," Papers on Entrepreneurship, Growth and Public Policy 2004-23, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  • Handle: RePEc:esi:egpdis:2004-23
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Frank G. Dickinson, 1970. "The Changing Position of Philanthropy in the American Economy," NBER Books, National Bureau of Economic Research, Inc, number dick70-1, April.
    3. Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1, January.
      • Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1, April.
    4. Maryann Feldman & Pierre Desrochers, 2003. "Research Universities and Local Economic Development: Lessons from the History of the Johns Hopkins University," Industry and Innovation, Taylor & Francis Journals, vol. 10(1), pages 5-24.
    5. Nicolai J. Foss & Peter G. Klein (ed.), 2002. "Entrepreneurship and the Firm," Books, Edward Elgar Publishing, number 2377.
    6. McDougall, Patricia P., 1989. "International versus domestic entrepreneurship: New venture strategic behavior and industry structure," Journal of Business Venturing, Elsevier, vol. 4(6), pages 387-400, November.
    7. Acs, Zoltan J & Phillips, Ronnie J, 2002. "Entrepreneurship and Philanthropy in American Capitalism," Small Business Economics, Springer, vol. 19(3), pages 189-204, November.
    8. Braunerhjelm, Pontus & Carlsson, Bo, 1999. "Industry Clusters in Ohio and Sweden, 1975-1995," Small Business Economics, Springer, vol. 12(4), pages 279-293, June.
    9. Phillips McDougall, Patricia & Shane, Scott & Oviatt, Benjamin M., 1994. "Explaining the formation of international new ventures: The limits of theories from international business research," Journal of Business Venturing, Elsevier, vol. 9(6), pages 469-487, November.
    10. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Acs, Zoltan J., 2015. "Moral Capital in the Twenty-First Century," Working Paper Series in Economics and Institutions of Innovation 418, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    2. repec:eee:jbvent:v:32:y:2017:i:4:p:385-404 is not listed on IDEAS

    More about this item

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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