Total Factor Productivity and the Role of Entrepreneurship
Government of the Netherlands - Ministry of Economic Affairs
affiliation not provided to SSRN
Erasmus University Rotterdam (EUR) - Centre for Advanced Small Business Economics (CASBEC); Erasmus Research Institute of Management (ERIM); EIM Netherlands - Business and Policy Research; Tinbergen Institute
May 4, 2009
Tinbergen Institute Discussion Paper 09-034/4
Total factor productivity of twenty OECD countries for a recent period (1971-2002) is explained using six different models based on the established literature. Traditionally, entrepreneurship is not dealt with in these models. In the present paper it is shown that - when this variable is added - in all models there is a significant influence of entrepreneurship while the remaining effects mainly stay the same. Entrepreneurship is measured as the business ownership rate (number of business owners per workforce) corrected for the level of economic development (GDP per capita).
Number of Pages in PDF File: 52
Keywords: Total factor productivity, research and development, entrepreneurship, OECD
JEL Classification: E20, L26, M13, O10, O30, O40, O50working papers series
Date posted: May 8, 2009
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