Entrepreneurship, Innovation and Economic Growth - past experience, current knowledge and policy implications

Pontus Braunerhjelm

No 224, Working Paper Series in Economics and Institutions of Innovation from Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: Considerable advances, even breakthroughs, have been made during the last decades in our understanding of the relationship between knowledge and growth on one hand, and entrepreneurship and growth on the other. Similarly, more profound insights have also been gained as to how entrepreneurship, innovation and knowledge are interrelated. Yet, a comprehensive understanding is still lacking concerning the interface of all of those variables: knowledge, innovation, entrepreneurship and growth. The link between the micro-economic origin of growth and the macro-economic outcome is still too rudimentary modeled to grasp the full width of these complex and intersecting forces. The main objective of this paper is hence to shed light on recent advances in our understanding of the forces that underpin the creation of knowledge, its diffusion and commercialization through innovation, and the role of the entrepreneur in the growth process. The policy implications of recent research findings conclude this survey. Particularly important policy implications refer to the design of regulation influencing knowledge production, ownership, entry barriers, labor mobility and (inefficient) financial markets. They all have implication for the efficient diffusion of knowledge through entry. Knowledge creation has to be matched by incentives that induce mechanisms to convert knowledge into societal and useful needs.

Keywords: Entrepreneurs; knowledge; innovation; growth; policy (search for similar items in EconPapers)
JEL-codes: O31 (search for similar items in EconPapers)
Pages: 82 pages
Date: 2010-04-10
New Economics Papers: this item is included in nep-cse, nep-ent, nep-fdg, nep-ino and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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Working Paper: Entrepreneurship, Innovation and Economic Growth – Past experiences, current knowledge and policy implications (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:cesisp:0224

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