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Entrepreneurship, Knowledge and Economic Growth

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  • Braunerhjelm, Pontus

    () (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology)

Abstract

Knowledge plays a critical role in economic development, still our understanding of how knowledge is created, diffused and converted into growth, is fragmented and partial. The neoclassical growth models disregarded the entrepreneur and viewed knowledge as an exogenous factor. Contemporary current knowledge-based growth models have re-introduced the notion of the entrepreneur, however stripped of its most typical characteristics, and the diffusion of knowledge is kept exogenous. It implies that the predictions and policy conclusions derived from these models may be flawed. This paper reviews the literature that addresses the issues of knowledge creation, knowledge diffusion and growth, and the role attributed the entrepreneur in such dynamic processes. I will explore how these insights can be integrated into existing growth models and suggest a more thorough microeconomic foundations from which empirically testable hypotheses can be derived.

Suggested Citation

  • Braunerhjelm, Pontus, 2007. "Entrepreneurship, Knowledge and Economic Growth," Working Paper Series in Economics and Institutions of Innovation 102, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  • Handle: RePEc:hhs:cesisp:0102
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    References listed on IDEAS

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    11. Roberta Capello, 2002. "Entrepreneurship and spatial externalities: Theory and measurement," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 36(3), pages 387-402.
    12. Audretsch, David B & Feldman, Maryann P, 1995. "Innovative Clusters and the Industry Life Cycle," CEPR Discussion Papers 1161, C.E.P.R. Discussion Papers.
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    14. Andersson, Martin & Karlsson, Charlie, 2005. "Knowledge Accessibility and Regional Economic Growth," Working Paper Series in Economics and Institutions of Innovation 40, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
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    Cited by:

    1. Martin Andersson & Florian Noseleit, 2011. "Start-ups and employment dynamics within and across sectors," Small Business Economics, Springer, vol. 36(4), pages 461-483, May.
    2. Pontus Braunerhjelm & Zoltán J. Ács & David B. Audretsch & Bo Carlsson, 2015. "The missing link: knowledge diffusion and entrepreneurship in endogenous growth," Chapters,in: Global Entrepreneurship, Institutions and Incentives, chapter 6, pages 108-128 Edward Elgar Publishing.
    3. Benny Borgman & Pontus Braunerhjelm, 2010. "Entrepreneurship and Local Growth: A Comparison of the US and Sweden," Chapters,in: Entrepreneurship and Regional Development, chapter 4 Edward Elgar Publishing.
    4. Baltzopoulos, Apostolos, 2009. "Agglomeration Externalities and Entrepreneurship - micro-level evidence from Sweden," Working Paper Series in Economics and Institutions of Innovation 190, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    5. Andersson, Martin & Noseleit, Florian, 2008. "Start-Ups and Employment Growth - Evidence from Sweden," Working Paper Series in Economics and Institutions of Innovation 155, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    6. Zoltán J. Ács & Mark Sanders, 2015. "Patents, knowledge spillovers, and entrepreneurship," Chapters,in: Global Entrepreneurship, Institutions and Incentives, chapter 11, pages 195-212 Edward Elgar Publishing.
    7. Zoltán J. Ács & Mark Sanders, 2015. "Patents, knowledge spillovers, and entrepreneurship," Chapters,in: Global Entrepreneurship, Institutions and Incentives, chapter 11, pages 195-212 Edward Elgar Publishing.

    More about this item

    Keywords

    entrepreneurship; knowledge; growth; spillovers;

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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