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Total factor productivity and the role of entrepreneurship

Author

Listed:
  • Hugo Erken

    (Ministry of Economic Affairs, Erasmus University Rotterdam)

  • Piet Donselaar

    (Ministry of Economic Affairs)

  • Roy Thurik

    (Erasmus University Rotterdam; Max Planck Institute of Economics; EIM Business and Policy Research)

Abstract

Total factor productivity of twenty OECD countries for a recent period (1971-2002) is explained using six different models based on the established literature. Traditionally, entrepreneurship is not dealt with in these models. In the present paper it is shown that - when this variable is added - in all models there is a significant influence of entrepreneurship while the remaining effects mainly stay the same. Entrepreneurship is measured as the business ownership rate (number of business owners per workforce) corrected for the level of economic development (GDP per capita).

Suggested Citation

  • Hugo Erken & Piet Donselaar & Roy Thurik, 2008. "Total factor productivity and the role of entrepreneurship," Jena Economics Research Papers 2008-019, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2008-019
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    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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