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Exploiting entrepreneurial opportunities: the impact of entrepreneurship on economic growth

  • Mueller, Pamela
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    Knowledge is recognized as an important ingredient for economic growth in addition to physical capital and labor. While transforming knowledge into products and processes it is exploited commercially. Nevertheless, the existing knowledge stock and the absorptive capacity of actors like employees at firms and researchers at universities and research institutions are conditional for the ability to produce, identify, and exploit knowledge. Since incumbent firms do not exploit new knowledge to the full extent, realized entrepreneurial opportunities may arise. This paper tests the hypothesis whether or not entrepreneurship is an important vehicle for knowledge flows and economic growth. The empirical results indicate that an increase in innovative start-up activity is more effective than an increase in general entrepreneurship for economic growth.

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    File URL: http://econstor.eu/bitstream/10419/27104/1/518488292.PDF
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    Paper provided by TU Bergakademie Freiberg, Faculty of Economics and Business Administration in its series Freiberg Working Papers with number 2005,16.

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    Date of creation: 2005
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    Handle: RePEc:zbw:tufwps:200516
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    1. David Audretsch & Max Keilbach, 2004. "Entrepreneurship and regional growth: an evolutionary interpretation," Journal of Evolutionary Economics, Springer, vol. 14(5), pages 605-616, December.
    2. Pamela Mueller, 2005. "Exploring the Knowledge Filter - How Entrepreneurship and University-Industry Relations Drive Economic Growth," ERSA conference papers ersa05p610, European Regional Science Association.
    3. Zoltan Acs & Lawrence Plummer, 2005. "Penetrating the ``knowledge filter'' in regional economies," The Annals of Regional Science, Springer, vol. 39(3), pages 439-456, 09.
    4. Carlsson, Bo & Acs, Zoltan & Audretsch, David & Braunerhjelm, Pontus, 2007. "The knowledge filter, Entrepreneurship and Economic Growth," Working Paper Series in Economics and Institutions of Innovation 104, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    5. Anselin, Luc & Varga, Attila & Acs, Zoltan, 1997. "Local Geographic Spillovers between University Research and High Technology Innovations," Journal of Urban Economics, Elsevier, vol. 42(3), pages 422-448, November.
    6. David Audretsch & Erik Lehmann & Susanne Warning, 2004. "University Spillovers: Does the Kind of Science Matter?," Working Papers of the Research Group Heterogenous Labor 04-04, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim.
    7. David B. audretsch & Erik E. Lehmann, 2005. "Mansfield's Missing Link: The Impact of Knowledge Spillovers on Firm Growth," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 207-210, 01.
    8. David Audretsch & Max Keilbach, 2004. "Entrepreneurship Capital and Economic Performance," Regional Studies, Taylor & Francis Journals, vol. 38(8), pages 949-959.
    9. Geuna, Aldo & Anthony Arundel, 2003. "Proximity and the Use of Public Science by Innovate European Firms," Royal Economic Society Annual Conference 2003 86, Royal Economic Society.
    10. Michael Fritsch, 2004. "Entrepreneurship, Entry and Performance of New Businesses Compared in two Growth Regimes: East and West Germany," Papers on Entrepreneurship, Growth and Public Policy 2004-41, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    11. P. Mueller, 2006. "Entrepreneurship in the Region: Breeding Ground for Nascent Entrepreneurs?," Small Business Economics, Springer, vol. 27(1), pages 41-58, August.
    12. Maskell, Peter & Malmberg, Anders, 1999. "Localised Learning and Industrial Competitiveness," Cambridge Journal of Economics, Oxford University Press, vol. 23(2), pages 167-85, March.
    13. Per Davidsson, 2005. "Paul D. Reynolds: Entrepreneurship Research Innovator, Coordinator, and Disseminator," Small Business Economics, Springer, vol. 24(4), pages 351-358, 05.
    14. Agarwal, Rajshree & Echambadi, Raj & Franco, April M. & Sarkar, M. B., 2002. "Knowledge Transfer through Congenital Learning: Spin-Out Generation, Growth and Survival," Working Papers 02-0101, University of Illinois at Urbana-Champaign, College of Business.
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