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A Spatial related Note on Entrepreneurship and Economic Growth

A large and still growing body of literature suggests that entrepreneurship is of exceptional importance in explaining regional specific efficiencies of knowledge spillovers. Although quantifying the impact of entrepreneurial activity for economic growth is an interesting issue -- particularly at the regional level -- a consice formulation within a theoretical growth model is missing. This paper in general tries to uncover the link between own- and neighbour-related regional entrepreneurial activity in innovation and regional growth within a spatial semi-endogenous growth model in the spirit of Jones (1995) reflecting recent empirical findings on entrepreneurial activity for economic growth. The paper makes the following points: firstly, the degree of tacit knowledge spillover within the R\&D-sector is positively related to own and neigbhour-related entrepreneurial activity and secondly, for a given entrepreneur's willingness to invest in R\&D-projects the degree of tacit knowledge spillover is higher with stronger institutions. The paper derives an explicit solution for the transitional as well as for the balanced growth path level of entrepreneurs' innovative activities.

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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa11p278.

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Date of creation: Sep 2011
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Handle: RePEc:wiw:wiwrsa:ersa11p278
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  1. Charles I. Jones & John C. Williams, . "Too Much of a Good Thing? The Economics of Investment in R&D," Working Papers 95006, Stanford University, Department of Economics.
  2. Nick Bloom & Mark Schankerman & John Van Reenen, 2005. "Identifying technology spillovers and product market rivalry," Proceedings, Federal Reserve Bank of San Francisco.
  3. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
  4. Attila Varga & Hans Schalk, 2004. "Knowledge Spillovers, Agglomeration and Macroeconomic Growth: An Empirical Approach," Regional Studies, Taylor & Francis Journals, vol. 38(8), pages 977-989.
  5. Adam B. Jaffe & Manuel Trajtenberg & Rebecca Henderson, 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," NBER Working Papers 3993, National Bureau of Economic Research, Inc.
  6. Manfred M. Fischer & Attila Varga, 2003. "Spatial knowledge spillovers and university research: Evidence from Austria," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 37(2), pages 303-322, 05.
  7. Jürgen Antony & Torben Klarl & Alfred Maußner, 2012. "Firm heterogeneity, credit constraints, and endogenous growth," Journal of Economics, Springer, vol. 105(3), pages 199-224, April.
  8. Acs, Zoltan J. & Anselin, Luc & Varga, Attila, 2002. "Patents and innovation counts as measures of regional production of new knowledge," Research Policy, Elsevier, vol. 31(7), pages 1069-1085, September.
  9. David Audretsch & Max Keilbach, 2004. "Entrepreneurship and regional growth: an evolutionary interpretation," Journal of Evolutionary Economics, Springer, vol. 14(5), pages 605-616, December.
  10. Autant-Bernard, Corinne, 2001. "Science and knowledge flows: evidence from the French case," Research Policy, Elsevier, vol. 30(7), pages 1069-1078, August.
  11. Attila Varga, 1998. "Local academic knowledge spillovers and the concentration of economic activity," ERSA conference papers ersa98p493, European Regional Science Association.
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