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High Growth Entrepreneurs, Public Policies and Economic Growth

Author

Listed:
  • Erik Stam

    (University of Cambridge, Max Planck Institute of Economics Jena, Research group on Entrepreneurship, Economic Growth and Public Policy)

  • Kashifa Suddle

    (EIM Business and Policy Research)

  • S. Jolanda A. Hessels

    (EIM Business and Policy Research)

  • Andre van Stel

    () (EIM Business and Policy Research, Erasmus University Rotterdam, Max Planck Institute of Economics, Research group on Entrepreneurship, Economic Growth and Public Policy)

Abstract

This paper investigates whether the presence of ambitious entrepreneurs is a more important determinant of national economic growth than entrepreneurial activity in general. We use data from the Global Entrepreneurship Monitor to test the extent to which high growth ambitions of entrepreneurs affect GDP growth for a sample of 36 countries. Our results suggest that ambitious entrepreneurship contributes more strongly to macro-economic growth than entrepreneurial activity in general. We find a particularly strong effect of high-expectation entrepreneurship for transition countries. These results are interpreted in light of the ongoing debate about public policies designed to stimulate high growth start-ups.

Suggested Citation

  • Erik Stam & Kashifa Suddle & S. Jolanda A. Hessels & Andre van Stel, 2007. "High Growth Entrepreneurs, Public Policies and Economic Growth," Jena Economic Research Papers 2007-019, Friedrich-Schiller-University Jena.
  • Handle: RePEc:jrp:jrpwrp:2007-019
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    References listed on IDEAS

    as
    1. Marco Vivarelli, 2004. "Are All the Potential Entrepreneurs So Good?," Small Business Economics, Springer, vol. 23(1), pages 41-49, August.
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    Cited by:

    1. Bjuggren, Carl Magnus & Daunfeldt, Sven-Olov & Johansson, Dan, 2010. "Ownership and High-Growth Firms," Ratio Working Papers 147, The Ratio Institute, revised 29 Sep 2010.
    2. repec:spr:intemj:v:13:y:2017:i:3:d:10.1007_s11365-016-0431-6 is not listed on IDEAS
    3. Nijkamp, Peter & van Hemert, Patricia, 2007. "Going for Growth; a Theoretical and Policy Framework," Papers DYNREG14, Economic and Social Research Institute (ESRI).
    4. Naude, Wim, 2008. "Entrepreneurship in Economic Development," WIDER Working Paper Series 020, World Institute for Development Economic Research (UNU-WIDER).
    5. Julie Hermans & Marcus Dejardin & Johanna Vanderstraeten & Dendi Ramdani & Erik Stam & Arjen van Witteloostuijn, 2012. "Ambitious entrepreneurship: antecedents and consequences," Working Papers 1210, University of Namur, Department of Economics.
    6. Lee, Seung-Hyun & Peng, Mike W. & Song, Sangcheol, 2013. "Governments, entrepreneurs, and positive externalities: A real options perspective," European Management Journal, Elsevier, vol. 31(4), pages 333-347.
    7. Nora Hesse & Rolf Sternberg, 2017. "Alternative growth patterns of university spin-offs: why so many remain small?," International Entrepreneurship and Management Journal, Springer, vol. 13(3), pages 953-984, September.
    8. Acs, Zoltan J. & Wim Naud�, 2011. "Entrepreneurship, Stages of Development, and Industrialization," WIDER Working Paper Series 080, World Institute for Development Economic Research (UNU-WIDER).
    9. Andres Jung & Cecilia Plottier, 2011. "Firm growth in a regional trade integration context," ERSA conference papers ersa11p1502, European Regional Science Association.
    10. Sander Wennekers & Jolanda Hessels & Chantal Hartog, 2009. "Global Entrepreneurship Monitor 2008 The Netherlands," Scales Research Reports A200914, EIM Business and Policy Research.
    11. Wim Naudé, 2011. "Foreign Aid for Innovation: The Missing Ingredient in Private Sector Development?," Working Papers 2011/35, Maastricht School of Management.
    12. repec:taf:entreg:v:29:y:2017:i:5-6:p:414-443 is not listed on IDEAS
    13. Teresa Krasnicka & Wojciech Glod, 2016. "Determinants of High-Growth Enterprises in Poland (Determinanty szybkiego wzrostu przedsiebiorstw w Polsce)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 14(62), pages 49-67.
    14. Sarah Kösters, 2010. "Subsidizing Start-Ups: Policy Targeting and Policy Effectiveness," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 199-225, September.
    15. Gries, Thomas & Naude, Wim, 2009. "When to Start a New Firm?: Modelling the Timing of Novice and Serial Entrepreneurs," WIDER Working Paper Series 039, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    entrepreneurial activity; high growth entrepreneurs; growth ambitions; high growth start-ups; public policy; economic growth;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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