The Intersection of the Fields of Entrepreneurship and Development Economics: A Review Towards a New View

15 Pages Posted: 12 Mar 2019

See all articles by Jolanda Hessels

Jolanda Hessels

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

Wim Naudé

RWTH Aachen University; IZA Institute of Labor Economics; Maastricht School of Management

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Date Written: April 2019

Abstract

Despite the popularity of promoting entrepreneurship and small and medium enterprises (SMEs) for economic development, there is little scientific basis on which policy makers can lean. The scholarly fields of entrepreneurship economics and development economics have been elaborated in isolation and only recently started to intersect. This growing intersection is, however, still fragmented, ad hoc, not based on a unifying theoretical approach and suffering from lack of proper measurement. Better policy making will hence benefit from the extension and deepening of the intersection of these fields. We contribute in this regard by providing a conceptual basis for the eventual elaboration of such a unified theoretical approach. We do so by providing an up‐to‐date review of the intersection of the two fields by noting the progress and gaps; by delineating the externalities associated with entrepreneurship in development and by proposing a synthesis definition of entrepreneurship.

Keywords: Development, Entrepreneurship, Growth, Occupational Choice

JEL Classification: F23, L26, L25, O38, O57

Suggested Citation

Hessels, Jolanda and Naudé, Wim, The Intersection of the Fields of Entrepreneurship and Development Economics: A Review Towards a New View (April 2019). Journal of Economic Surveys, Vol. 33, Issue 2, pp. 389-403, 2019, Available at SSRN: https://ssrn.com/abstract=3349333 or http://dx.doi.org/10.1111/joes.12286

Jolanda Hessels (Contact Author)

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands

Wim Naudé

RWTH Aachen University ( email )

Templergraben 55
52056 Aachen, 52056
Germany

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany

Maastricht School of Management ( email )

Endepolsdomein 150
Maastricht, Limburg 6201 BE
Netherlands

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