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Entrepreneurship and Economic Growth: An Obvious Conjunction?

Author

Listed:
  • Marcus DEJARDIN

    (FUNDP)

Abstract

This paper consists of an introductory survey of two fundamental questions regarding the link between entrepreneurship and economic growth. The first one deals with the endogenous relationship between entrepreneurship and growth. In particular, we suggest that, while more entrepreneurship could mean more economic growth, economic growth in turn could affect the individual arbitrage between different professional occupations (including entrepreneurship) and expected payoffs. The second question is concerned with the types of activities to which the individual directs his talents. We distinguish between entrepreneurship and rent-seeking. The impact on economic growth is assessed in static and dynamic frameworks.

Suggested Citation

  • Marcus DEJARDIN, 2001. "Entrepreneurship and Economic Growth: An Obvious Conjunction?," Development and Comp Systems 0110010, EconWPA.
  • Handle: RePEc:wpa:wuwpdc:0110010
    Note: Type of Document - Pdf; pages: 17 . Introductory Discussion Paper Ref. IDS DP 2000-08, Indiana University, Bloomington.
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    File URL: http://econwpa.repec.org/eps/dev/papers/0110/0110010.pdf
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    References listed on IDEAS

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    1. David B. Audretsch, 1994. "Small business in Industrial Economies : the new learning," Revue d'Économie Industrielle, Programme National Persée, vol. 67(1), pages 21-39.
    2. Kanbur, S M, 1979. "Of Risk Taking and the Personal Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 769-797, August.
    3. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 503-530.
    4. Robert Tollison, 2012. "The economic theory of rent seeking," Public Choice, Springer, vol. 152(1), pages 73-82, July.
    5. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 719-748, August.
    6. Acemoglu, Daron, 1995. "Reward structures and the allocation of talent," European Economic Review, Elsevier, vol. 39(1), pages 17-33, January.
    7. Baland, Jean-Marie & Francois, Patrick, 2000. "Rent-seeking and resource booms," Journal of Development Economics, Elsevier, vol. 61(2), pages 527-542, April.
    8. Dutz, Mark A. & Ordover, Janusz A. & Willig, Robert D., 2000. "Entrepreneurship, access policy and economic development: Lessons from industrial organization," European Economic Review, Elsevier, vol. 44(4-6), pages 739-747, May.
    9. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1993. "Why Is Rent-Seeking So Costly to Growth?," American Economic Review, American Economic Association, vol. 83(2), pages 409-414, May.
    10. Baumol, William J., 1996. "Entrepreneurship: Productive, unproductive, and destructive," Journal of Business Venturing, Elsevier, vol. 11(1), pages 3-22, January.
    11. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-846, September.
    12. Philip R. Lane & Aaron Tornell, 1999. "The Voracity Effect," American Economic Review, American Economic Association, vol. 89(1), pages 22-46, March.
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    Citations

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    Cited by:

    1. VAZQUEZ-ROZAS, Emilia & GOMES, Sofia & VIEIRA, Elvira, 2010. "Entrepreneurship And Economic Growth In Spanish And Portuguese Regions," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 10(2).
    2. Elena Druica & Ana-Maria Grigore, 2017. "Fixed effects models to assess the effectiveness of entrepreneurial diversification strategy in SMEs," Romanian Statistical Review, Romanian Statistical Review, vol. 65(1), pages 39-55, March.
    3. Wim Naudé, 2010. "Entrepreneurship, developing countries, and development economics: new approaches and insights," Small Business Economics, Springer, vol. 34(1), pages 1-12, January.
    4. Andrzej P. Dabkowski, 2011. "Entrepreneurship and Economic Growth: An Investigation into the Relationship between Entrepreneurship and Total Factor Productivity Growth in the EU," CASE Network Studies and Analyses 427, CASE-Center for Social and Economic Research.
    5. Szerb, László & Ulbert, József & Varga, Attila & Bodor, Éva & Acs, Zoltan J., 2004. "Az új vállalkozások hatásai nemzetközi összehasonlításban. A Global Entrepreneurship Monitor kutatás, 2001-2003
      [The effect of new ventures compared internationally]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 679-698.
    6. Chen, Chih Cheng, 2014. "Entrepreneurship, Economic Growth, And Employment : A Case Study Of Taiwan," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 55(1), pages 71-88, June.
    7. John Tang, 2013. "Railroad expansion and entrepreneurship: Evidence from Meiji Japan," AJRC Working Papers 1302, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    8. Ana-Maria Grigore & Irina-Maria Dragan, 2015. "Entrepreneurship and its Economical Value in a very Dynamic Business Environment," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 120-120, February.
    9. Naudé, Wim, 2011. "Entrepreneurship is Not a Binding Constraint on Growth and Development in the Poorest Countries," World Development, Elsevier, vol. 39(1), pages 33-44, January.
    10. repec:wsi:jdexxx:v:17:y:2012:i:02:n:s1084946712500100 is not listed on IDEAS
    11. Pene Zongabiro Nina Pelagie, 2014. "The Contribution of Village Palm Grove to the Cameroonian Rural Economic Development," Research in World Economy, Research in World Economy, Sciedu Press, vol. 5(2), pages 159-168, September.
    12. repec:csg:ajrcwp:02 is not listed on IDEAS
    13. David Audretsch & Matthias Bank & Martin Carree & Marcus Dejardin & Julie Elston & Harmut Fest & Andre Jungmittag & Georg Licht & Gerald Mcdermott & Margaret Polski & Scott Shane & Paul Welfens & Juer, 2002. "The New Economy in Germany and the United States: Policy Challenges and Solutions," Working Papers halshs-00721657, HAL.
    14. Emilia Vázquez & Sofia Gomes & Elvira Vieira, 2011. "Entrepreneurship and Economic Growth in Spanish and Portuguese Regions," ERSA conference papers ersa10p1537, European Regional Science Association.

    More about this item

    Keywords

    entrepreneurship; economic growth; rent-seeking;

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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