Could The Irish Miracle Be Repeated in Hungary?

Zoltan J. Acs, (), Colm O'Gorman, Laszlo Szerb and Siri Terjesen ()

Discussion Papers on Entrepreneurship, Growth and Public Policy from Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy

Abstract: It is widely recognized that foreign direct investment (FDI) plays an important role in economic development. Internationalization theory is used to explore how inward FDI impacts entrepreneurial activity. Using data from the Global Entrepreneurship Monitor we find significant differences in entrepreneurial activity between Ireland and Hungary in both the type of people starting businesses and the opportunities pursued. These results suggest that economic development policies for middle-income countries, like Hungary, should focus on increasing human capital, promote enterprise development, and upgrading the quality of FDI.

Keywords: Entrepreneurial Activity; GEM; Economic Development; Entrepreneurs; Foreign Direct Investment; Knowledge Spillovers; Ireland; Hungary (search for similar items in EconPapers)
JEL-codes: M13 F23 O10 O30 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent and nep-tra
Date: Written 2006-08
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Related works:
Journal Article: Could the Irish Miracle be Repeated in Hungary? (2007)
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