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Types of Entrepreneurship and Economic Growth

  • Stam, Erik


    (Utrecht School of Economics)

  • Stel, Andre van


    (EIM Business and Policy Research, Amsterdam Center for Entrepreneurship)

In this paper, we empirically investigate the effect of entrepreneurship on economic growth at the country level. We use data from the Global Entrepreneurship Monitor, which provides comparative data on entrepreneurship from a wide range of countries. An important element of this paper is that we compare the effects of entrepreneurial activity on economic growth in high income, transition and low income countries. This dataset also enables us to make a distinction between the effects of entrepreneurship in general and growth-oriented entrepreneurship in particular. We present empirical tests of the impact of entrepreneurial activity on GDP growth over a four year period for a sample of 36 countries. Our empirical analyses suggest that entrepreneurship does not have an effect on economic growth in low income countries, in contrast to transition and high income countries where especially growth-oriented entrepreneurship seems to contribute strongly to macroeconomic growth

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Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 049.

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Date of creation: 2009
Date of revision:
Handle: RePEc:unm:unumer:2009049
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  1. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-83, May.
  2. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  3. Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
  4. Thomas Gries & Wim Naudé, 2010. "Entrepreneurship and structural economic transformation," Small Business Economics, Springer, vol. 34(1), pages 13-29, January.
  5. David B. Audretsch & Max Keilbach, 2004. "Entrepreneurship Capital and Economic Performance," Papers on Entrepreneurship, Growth and Public Policy 2004-01, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  6. Hausmann, Ricardo & Rodrik, Dani, 2002. "Economic Development as Self-Discovery," Working Paper Series rwp02-023, Harvard University, John F. Kennedy School of Government.
  7. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January.
  8. Carol Graham, 2005. "Insights on Development from the Economics of Happiness," World Bank Research Observer, World Bank Group, vol. 20(2), pages 201-231.
  9. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
  10. Djankov, Simeon & Qian, Yingyi & Roland, Gérard & Zhuravskaya, Ekaterina, 2006. "Entrepreneurship in China and Russia Compared," CEPR Discussion Papers 5705, C.E.P.R. Discussion Papers.
  11. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-38, July.
  12. Mohapatra, Sandeep & Rozelle, Scott & Goodhue, Rachael, 2007. "The Rise of Self-Employment in Rural China: Development or Distress?," World Development, Elsevier, vol. 35(1), pages 163-181, January.
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