Entrepreneurial types and economic growth
Maria Minniti and
Journal of Business Venturing, 2010, vol. 25, issue 3, pages 305-314
Most literature on economic growth focuses on expenditure in research and development (R&D) because of its ability to produce technological change. Models based on this principle, however, fail to account for the exceptional growth exhibited in recent year by country such as China where R&D expenditure is virtually non-existing and for the lack of growth observed in countries such as Japan where R&D expenditure is significant. We propose a model in which entrepreneurs may be research-based (those incurring R&D expenditure) or imitators (those not incurring R&D expenditure) and show that, when the returns to R&D expenditure are low, such as in many emerging economies, the presence of a high number of imitative entrepreneurs who increase competition and product supply is sufficient to generate economic growth regardless of the distribution of activity between research-based and imitative and in spite of low R&D expenditure.
Keywords: Entrepreneur; Entrepreneurship; Imitators; Economic; growth (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (9) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:eee:jbvent:v:25:y:2010:i:3:p:305-314
Access Statistics for this article
Journal of Business Venturing is currently edited by S. Venkataraman
More articles in Journal of Business Venturing from Elsevier
Series data maintained by Zhang, Lei ().