Entrepreneurship and regional economic growth: Towards a general theory of start-ups

Innovation: The European Journal of Social Science Research

Volumn 22, Issue 3, 2009, Pages 309-328

  Gries, Thomas ^a   Naudé, Wim ^b  

^a UNIVERSITY OF PADERBORN   (Germany)

^b UNITED NATIONS UNIVERSITY   (Finland)

Author keywords

Economic growth; Entrepreneurship; Frictions; Start ups

Indexed keywords

ECONOMIC GROWTH; EMPIRICAL ANALYSIS; ENTREPRENEUR; HUMAN CAPITAL; NUMERICAL MODEL; REGIONAL ECONOMY;

EID: 74749091131     PISSN: 13511610     EISSN: 14698412     Source Type: Journal    
DOI: 10.1080/13511610903354877     Document Type: Article

References (58)

1. Acs, Z. and Varga, A., 2004. Entrepreneurship, agglomeration and technological change. Discussion Paper 6/2004. Jena: Max Planck Institute for Research into Economic Systems.
2. Audretsch, D.B., Keilbach, M.C., and Lehmann, E.E., 2006. Entrepreneurship and economic growth. Oxford: Oxford University Press.
3. Backes-Gellner, U. and Werner, A., 2007. Entrepreneurial signalling via education: a success factor in innovative start-ups. Small business economics, 29 (1-2), 173-191.
4. Banerjee, A. and Newman, A., 1993. Occupational choice and the process of development. Journal of political economy, 101 (2), 274-298.
5. Baumol, W.J., Litan, R.E., and Schramm, C.J., 2007. Good capitalism, bad capitalism and the economics of growth and prosperity. New Haven, CT: Yale University Press.
6. Blanchflower, D.G. and Oswald, A.J., 1998. What makes an entrepreneur? Journal of labor economics, 16, 26-60.
7. Bonnet, J., Cieply, S., and Dejardin, M., 2005. Financial constraints on new firms: looking for regional disparities, Discussion paper no. 3705. Jena: Max Planck Institute of Economics.
8. Bosma, N., de Wit, G., and Carree, M., 2005. Modelling entrepreneurship: unifying the equilibrium and entry/exit approach. Small business economics, 25, 35-48.
9. Carree, M. and Dejardin, M., 2007. Entry thresholds and actual entry and exit in local markets. Small business economics, 29 (1-2), 203-213.
10. Ciccone, A. and Matsuyama, K., 1996. Start-up costs and pecuniary externalities as barriers to economic development. Journal of development economics, 4, 33-59.
11. Davidsson, P. and Honig, B., 2003. The role of social and human capital among nascent entrepreneurs. Journal of business venturing, 18, 301-331.
12. Dunn, T. and Holtz-Eakin, D., 2000. Financial capital, human capital and the transition to self-employment: evidence from intergenerational links. Journal of labor economics, 18 (2), 282-305.
13. Estrin, S., Meyer, K.E., and Bytchkova, M., 2006. Entrepreneurship in transition economies. In: M. Casson, B. Yeung, A. Basu and N. Wadeson, eds. The Oxford handbook of entrepreneurship. Oxford: Oxford University Press, 693-725.
14. Ethier, W.J., 1982. National and international returns to scale in the modern theory of international trade. American economic review, 72, 389-405.
15. Evans, D.S. and Jovanovic, B., 1989. An estimated model of entrepeneurial choice under liquidity constraints. Journal of political economy, 97 (4), 808-827.
16. Fogel, K., Hawk, A., Morck, R., and Yeung, B., 2006. Institutional obstacles to entrepreneurship. In: M. Casson, B. Yeung, A. Basu and N. Wadeson, eds. The Oxford handbook of entrepreneurship. Oxford: Oxford University Press, 540-579.
17. Fonseca, R., Lopez-Garcia, P., and Pissarides, C.A., 2001. Entrepreneurship, start-up costs and employment. European economic review, 45, 692-705.
18. Fonseca, R., Michaud, P.C., and Sopraseuth, T., 2007. Entrepreneurship, wealth, liquidity constraints and start-up costs. Discussion Paper Series IZA no. 2874, Bonn.
19. Gentry, W. and Hubbard, R.G., 2000. Entrepreneurship and household savings. American economic review, 90 (2), 283-287.
20. Giannetti, M. and Simonov, A., 2004. On the determinants of entrepreneurial activity: social norms, economic environment and individual characteristics. Swedish economic policy review, 11, 269-313.
21. Gries, T. and Naudé, W.A., 2009. When to start a new firm? Modelling the timing of novice and serial entrepreneurs. WIDER Research Paper RP2009/39, United Nations University, Helsinki.
22. Gries, T. and Naudé, W.A., 2010. Entrepreneurship and structural economic transformation. Small business economics journal, 34 (1) [forthcoming].
23. Hart, D.M., 2003. Entrepreneurship policy: what it is and where it came from. In: D.M. Hart, ed. The emergence of entrepreneurship policy: governance, start-ups and growth in the US knowledge economy. Cambridge: Cambridge University Press, 3-19.
24. Henderson, J.V., 2000. The effects of urban concentration on economic growth. NBER Working Paper no. 7503. Cambridge, MA: National Bureau of Economic Research.
25. Highfield, R. and Smiley, R., 1987. New business start-ups and economic activity: an empirical investigation. International journal of industrial organization, 5, 51-66.
26. Hurst, E. and Lusardi, A., 2004. Liquidity constraints, household wealth and entrepreneurship. Journal of political economy, 112, 319-347.
27. Iyigun, M. and Owen, A., 1999. Entrepreneurs, professionals and growth. Journal of economic growth, 4, 213-232.
28. Iyigun, M. and Rodrik, D., 2004. On the efficacy of reforms: policy tinkering, institutional change, and entrepreneurship. NBER Working Paper no. 10455. Cambridge, MA: The NBER.
29. Johnson, S., McMillan, J., and Woodruff, C., 2000. Entrepreneurs and the ordering of institutional reform: Poland, Slovakia, Romania, Russia and Ukraine compared. Economics of transition, 81 (1), 1-36.
30. Jovanovic, B., 1982. Selection and evolution of industry. Econometrica, 50 (3), 649-670.
31. Kim, P.H., Aldrich, H.E., and Keister, L.A., 2006. Access (not) denied: the impact of financial, human and cultural capital on entrepreneurial entry in the United States. Small business economics, 27, 5-22.
32. Leff, N.H., 1979. Entrepreneurship and economic development: the problem revisited. Journal of economic literature, 17, 46-64.
33. Lingelbach, D., L. de la Vina, and Asel P., 2005. What's distinctive about growth-oriented entrepreneurship in developing countries? San Antonio, TX: Center for Global Entrepre-neurship Working Paper 1, UTSA College of Business.
34. Lloyd-Ellis, H. and Bernhardt, D., 2000. Enterprise, inequality and economic development. Review of economic studies, 67, 147-168.
35. Lucas, R.E., 1978. On the size distribution of business firms. Bell journal of economics, 9, 508-523.
36. Lucas, R.E., 1988. On the mechanics of economic development. Journal of monetary economics, 22, 3-42.
37. Mason, C.M. and Harrison, R.T., 2002. Barriers to investment in the informal venture capital sector. Entrepreneurship and regional development, 14 (3), 271-287.
38. McMillan, J. and Woodruff, C., 2002. The central role of entrepreneurs in transition economies. Journal of economic perspectives, 16 (3), 153-170.
39. Mesnard, A. and Ravallion, M., 2005. The wealth effect on new business start-ups in a developing country. IFPRI/Cornell Conference on Threshold Effects and Non-Linearities in Growth and Development, Washington, DC, 11-13 May 2005.
40. Montiel, P.J., Agénor, P.R. and Ul Haque, N., 1993. Informal financial markets in developing countries. Oxford: Blackwells.
41. Munshi, K., 2007. From farming to international business: the social auspices of entrepreneurship in a growing economy. NBERWorking Paper no. 13065. Cambridge, MA: The NBER.
42. Naudé, W.A., Gries, T., Wood, E., and Meintjes, A., 2008. Regional determinants of entrepreneurial start-ups in a developing country. Entrepreneurship and regional development, 20 (2), 111-124.
43. Newman, A.F., 2007. Risk-bearing and entrepreneurship. Journal of economic theory, 137 (1), 11-26.
44. Orford, J., Wood, E., Fischer, C., Herrington, M., and Segal, N. 2003. Global entrepreneurship monitor report. South African Executive Report 2003. Cape Town. The Graduate School of Business.
45. Paulson, A., Townsend, R., and Karaivanov, A., 2006. Distinguished limited liability from moral hazard in a model of entrepreneurship. Journal of political economy, 114 (1), 100-145.
46. Reynolds, P.D., 1992. Predicting new-firm births: interactions of organizational and human populations. In: Sexton, D. and Kasarda, J., eds. Entrepreneurship in the 1990s. Boston, M: DWS-Kent, chapter 11, 268-284.
47. Reynolds, P.D., 1993. The role of entrepreneurship in economic systems: developed market and post-socialist economies. Paper presented at the Second Freiberg Symposium on Economics, Freiberg, 9 11 September.
48. Reynolds, P.D. and Storey, D.J., 1993. Local and regional characteristics affecting small business formation: a cross-national comparison. Paris: OECD.
49. Reynolds, P.D., Storey, D.J., and Westhead, P., 1994. Cross-national comparisons of the variations in new firm formation rates. Regional studies, 28 (4), 443-456.
50. Romer, P., 1987. Growth based on increasing returns due to specialization. American economic review, 77, 56-62.
51. Schramm, C. J., 2004. Building entrepreneurial economies. Foreign affairs, 83 (4), 104-115.
52. Stam, E., 2007. Why butterflies don't leave: locational behaviour of entrepreneurial firms. Economic geography, 83 (1), 27-50.
53. Stiglitz, J.E. and Weiss, A., 1981. Credit rationing in markets with imperfect information. American economic review, 71, 393-410.
54. Todtling, F. and Wanzenbock, H., 2003. Regional differences in structural characteristics of start-ups. Entrepreneurship and regional development, 15, 351-370.
55. Wang, S., 2006. Determinants of new firm formation in Taiwan. Small business economics, 27 (45), 313-323.
56. Wennekers, S. and Thurik, R., 1999. Linking entrepreneurship and economic growth. Small business economics, 13 (1), 27-55.
57. Wennekers, A., Uhlaner, L. and Thurik, R., 2002. Entrepreneurship and its conditions: a macro perspective. International journal of entrepreneurship education, 1 (1), 25-64.
58. Wennekers, S., Van Stel, A., Thurik, R., and Reynolds, P., 2005. Nascent entrepreneurship and the level of economic development. Small business economics, 24, 293-309.