Total factor productivity and the role of entrepreneurship

Hugo Erken, Piet Donselaar and Roy Thurik
Additional contact information
Hugo Erken: Rabobank
Piet Donselaar: Ministry of Economic Affairs

The Journal of Technology Transfer, 2018, vol. 43, issue 6, No 4, 1493-1521

Abstract: Abstract The absence of evidence in the scholarly literature for a tested long-term relationship between entrepreneurship and economic growth is at odds with the importance attributed to entrepreneurship in the policy arena. The present paper addresses this absence, introducing entrepreneurship using four different and accepted models explaining the total factor productivity of twenty OECD countries with data for the period 1969–2010. Traditionally, entrepreneurship is not addressed in these models. We show that in all models—as well as a joint one—entrepreneurship has a significant influence while the remaining effects largely stay the same. Entrepreneurship is measured as the business ownership rate (number of business owners per workforce) corrected for the level of economic development (GDP per capita).

Keywords: Total factor productivity; Entrepreneurship; Research and development; OECD (search for similar items in EconPapers)
JEL-codes: E20 L26 M13 O30 O40 O50 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (20)

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Working Paper: Total factor productivity and the role of entrepreneurship (2008)
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DOI: 10.1007/s10961-016-9504-5

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