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Growth and Entrepreneurship: An Empirical Assessment
David B. Audretsch Max Planck Institute of Economics; Indiana University - Institute for Development Strategies; Centre for Economic Policy Research (CEPR) Zoltan J. Acs George Mason University - School of Public Policy Pontus Braunerhjelm Royal Institute of Technology (KTH) - Department of Infrastructural and Urban Planning (INFRA) Bo Carlsson Case Western Reserve University - Department of Economics January 2006 CEPR Discussion Paper No. 5409 Abstract: This paper suggests that the spillover of knowledge may not occur automatically as has typically been assumed in models of endogenous growth. Rather, a mechanism is required that serves as a conduit for the spillover and commercialization of knowledge from the source creating it to the firm actually commercializing the new ideas. In this paper, entrepreneurship is identified as one such mechanism facilitating the spillover of knowledge. Using a panel of entrepreneurship data for 18 countries, empirical evidence is found that in addition to measures of R&D and human capital, entrepreneurial activity also serves to promote economic growth.
Keywords: Entrepreneurship, growth JEL Classifications: M13, O40, R11 Working Paper SeriesDate posted: March 23, 2006 ; Last revised: March 24, 2006Suggested CitationContact Information
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