Overview
- Authors:
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André Stel
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Erasmus University Rotterdam, The Netherlands
Max Planck Institute of Economics, Jena, Germany
EIM Business and Policy Research, Zoetermeer, The Netherlands
- Provides a series of empirical papers that investigate the relation between entrepreneurship and economic growth at the country and regional level
- Contributes to our understanding of how entrepreneurship may affect economic growth
- Includes supplementary material: sn.pub/extras
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Table of contents (10 chapters)
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Back Matter
Pages 215-235
About this book
The importance of entrepreneurship for achieving economic growth in contemporary economies is widely recognized, both by policy makers and economists. It is deeply embedded in the current European policy approach that the creativity and independence of entrepreneurs contribute to higher levels of economic activity. Indeed, according to the European Commission (2003, p. 9), "The challenge for the European Union is to identify the key factors for building a climate in which entrepreneurial initiative and business activities can thrive. Policy measures should seek to boost the Union's levels of entrepreneurship, adopting the most appropriate approach for producing more entrepreneurs and for getting more firms to grow. " Audretsch (2003, p. 5) states that "Entrepreneurship has become the engine of economic and social development throughout the world. " The relation between entrepreneurship and economic growth is embedded in several strands of the economic literature. A first strand of literature involves the general understanding of the role of entrepreneurship in the modern economy. Seminal contributions were made by Schumpeter (1934), Knight (1921) and Kirzner (1973). These economists stress different aspects of the role of the entrepreneur. While Schumpeter stresses the innovating aspect, Knight stresses the risk assuming aspect. Kirzner, finally, stresses the role of the entrepreneur in leading markets to equilibrium. Acs (1992) discusses the contribution of small firms in modern economies.
Reviews
From the reviews:
“The main empirical contribution of the book consists of the chapters that analyse the relationship between entrepreneurship and economic growth at the cross-country level and the attempt to construct a harmonised dataset on business ownership. … one must recognise that the separate chapters are definitely of high quality and that they constitute an important empirical contribution to the entrepreneurship literature.” (Kristina Nyström, Papers in Regional Science, Vol. 87 (2), June, 2008)
Authors and Affiliations
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Erasmus University Rotterdam, The Netherlands
André Stel
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Max Planck Institute of Economics, Jena, Germany
André Stel
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EIM Business and Policy Research, Zoetermeer, The Netherlands
André Stel
