Abstract

http://ssrn.com/abstract=1528208
 
 

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Invention, Entrepreneurship and Prosperity: The Dutch Golden Age


Thijs Ten Raa


Tilburg University - Center for Economic Research (CentER)

Pierre Mohnen


Maastricht University - UNU-MERIT

Jan Luiten Van Zanden


University of Utrecht

Bas Van Leeuwen


Utrecht University, Humanities; Free University, Humanities; Warwick University, Department of Economics

December 23, 2009


Abstract:     
The Dutch 16th and 17th centuries were a period of unprecedented economic prosperity. Since the Dutch economy was and is very small, an important source of growth was bound to be international trade. In this paper we argue that the contributions of entrepreneurship to innovation transcend the standard categories of creation of new products and processes. Entrepreneurship also finds new markets for its products and creates new modes of trade. The Dutch were the globalization pioneers avant la lettre. The same considerations apply to the later decline of the Dutch economy. The rise and decline of the Dutch Republic are well explained by a combination of the traditional Total Factor Productivity (TFP) driver, innovations, and two facets of trade, namely openness and entrepreneurship. The evidence for these contentions rests on a remarkable body of economic data that apparently are unique in the early dates to which they pertain and the extensive information they provide.

Number of Pages in PDF File: 11

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Date posted: December 26, 2009  

Suggested Citation

ten Raa, Thijs and Mohnen, Pierre and van Zanden, Jan Luiten and van Leeuwen, Bas, Invention, Entrepreneurship and Prosperity: The Dutch Golden Age (December 23, 2009). Available at SSRN: http://ssrn.com/abstract=1528208 or http://dx.doi.org/10.2139/ssrn.1528208

Contact Information

Thijs Ten Raa (Contact Author)
Tilburg University - Center for Economic Research (CentER) ( email )
P.O. Box 90153
Tilburg, 5000 LE
Netherlands
HOME PAGE: http://center.uvt.nl/staff/raa/
Pierre Mohnen
Maastricht University - UNU-MERIT ( email )
P.O. Box 616
Maastricht, 6200 MD
Netherlands
31-43-3884464 (Phone)
31-43-3884495 (Fax)
Jan Luiten Van Zanden
University of Utrecht ( email )
Vredenburg 138
NL-3508 TC Utrecht, 3511 BG
Netherlands
Bas Van Leeuwen
Utrecht University, Humanities ( email )
Vredenburg 138
Utrecht, 3511 BG
Netherlands
Free University, Humanities ( email )
De Boelelaan 1105
Amsterdam, ND North Holland 1081 HV
Netherlands
Warwick University, Department of Economics ( email )
Coventry CV4 7AL
United Kingdom
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