The Process of Creative Construction: Knowledge Spillovers, Entrepreneurship and Economic Growth
University of Maryland - Robert H. Smith School of Business
David B. Audretsch
Indiana University - Institute for Development Strategies; King Saud University; WHU - Otto Beisheim School of Management; Indiana University Bloomington - School of Public & Environmental Affairs (SPEA)
M. B. Sarkar
University of Central Florida - College of Business Administration
Strategic Entrepreneurship Journal, Forthcoming
Questioning the underlying assumptions of the process of creative destruction, we conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. We discuss the underlying mechanism of knowledge spillover strategic entrepreneurship whereby knowledge investments by existing organizations, when coupled with entrepreneurial action by individuals embedded in their context, results in new venture creation, heterogeneity in performance and subsequent growth in industries, regions and economies. The framework has implications for future research in entrepreneurship, strategy and economic growth.
Number of Pages in PDF File: 46
Keywords: entrepreneurship, economic growth, knowledge spillovers, creative construction
JEL Classification: D62, J24, M13, O32
Date posted: November 7, 2007
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