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The Entrepreneurship-Philanthropy Nexus: Implication for Internationalization

  • Zoltan J. Acs
  • Pontus Braunerhjelm

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.

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Paper provided by Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group in its series Papers on Entrepreneurship, Growth and Public Policy with number 2004-23.

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Length: 50 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:esi:egpdis:2004-23
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  1. Frank G. Dickinson, 1970. "The Changing Position of Philanthropy in the American Economy," NBER Books, National Bureau of Economic Research, Inc, number dick70-1, July.
  2. 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.
  3. 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.
  4. Braunerhjelm, Pontus & Carlsson, Bo, 1999. " Industry Clusters in Ohio and Sweden, 1975-1995," Small Business Economics, Springer, vol. 12(4), pages 279-93, June.
  5. 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.
  6. Acs, Zoltan J & Phillips, Ronnie J, 2002. " Entrepreneurship and Philanthropy in American Capitalism," Small Business Economics, Springer, vol. 19(3), pages 189-204, November.
  7. 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.
  8. Nicolai J. Foss & Peter G. Klein (ed.), 2002. "Entrepreneurship and the Firm," Books, Edward Elgar, number 2377, March.
  9. Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1, July.
    • Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1, July.
  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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