Entrepreneurial Culture and Economic Growth

Sjoerd Beugelsdijk and Roger Smeets

American Journal of Economics and Sociology, 2008, vol. 67, issue 5, pages 915-939

Abstract: We reestimate McClelland's (1961) thesis on entrepreneurial culture and economic development. McClelland found a strong positive correlation between measures of need for achievement ("N" achievement) imagery in school textbooks and the subsequent rate of economic growth. Benchmarking our findings against generally accepted empirical growth models, we find no support for his thesis. This leads us to rethink the relationship between entrepreneurial culture and economic growth. Copyright © 2008 American Journal of Economics and Sociology, Inc..

Date: 2008

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