An Empirical Relationship between Entrepreneurship and FDI. A Note
In the present note an effort will be made for a contribution to economic theory by estimating an econometric relationship between the foreign direct investment [FDI] and total economy’s entrepreneurship reward [rEM]. This note is based mainly on the next two papers. First, it will be based on the discussion paper “Understanding the Role of Entrepreneurship for Economic Growth.” by Martin Carree and Roy Thurik, MPIoE, #2005, in which the authors show the importance of entrepreneurship to adapt to new technology, to develop capacity and reach economies of scale. Second, it will be based on the discussion paper “Does Entrepreneurship Create Enough Jobs in Europe? A Note.” by Miltiades N. Georgiou, MPIoE, #0806, in which entrepreneurship reward [rEM] is measurable and consequently can be related with the other measurable economic variables like the [FDI]. Hence, in the present note a relationship between [FDI] and [rEM] can be numerically estimated. More specifically, it will be pointed out with panel data econometric analysis that in all Western European Countries and the United States [FDI] is positively related with [rEM], and that decisions about [FDI] are mainly affected by [rEM].
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- Klepper, Steven, 1996. "Entry, Exit, Growth, and Innovation over the Product Life Cycle," American Economic Review, American Economic Association, vol. 86(3), pages 562-83, June.
- Zoltan Acs & Colm O'Gorman & Laszlo Szerb & Siri Terjesen, 2006.
"Could The Irish Miracle Be Repeated in Hungary?,"
Papers on Entrepreneurship, Growth and Public Policy
2005-33, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
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- Halkos, George E., 2003. "Environmental Kuznets Curve for sulfur: evidence using GMM estimation and random coefficient panel data models," Environment and Development Economics, Cambridge University Press, vol. 8(04), pages 581-601, October.
- Miltiades N. Georgiou, 2006. "Does Entrepreneurship create enough Jobs in Europe? A Note," Papers on Entrepreneurship, Growth and Public Policy 2006-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
- Martin Carree & Roy Thurik, 2005. "Understanding the role of entrepreneurship for economic growth," Papers on Entrepreneurship, Growth and Public Policy 2005-10, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
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