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Entrepreneurship capital types and economic growth: International evidence

Urbano, D.; Aparicio, S.

Entrepreneurship capital types and economic growth: International evidence Thumbnail


Authors

D. Urbano

S. Aparicio



Abstract

This paper analyzes the effect of entrepreneurship capital types on economic growth. We use an augmented Cobb–Douglas production function, which introduces variables such as entrepreneurship capital into the analysis of growth as endogenous factor. We differentiate our work from the previous studies by using panel data analysis, with 43 countries in the period from 2002 to 2012, and different measures of entrepreneurship capital. Our estimations suggest that these measures have a positive effect on economic growth, specifically overall TEA and opportunity TEA. Distinguishing between groups of countries and periods of time, we find that overall TEA has a greater effect on economic growth in OECD countries and in the post-crisis period for all the countries in our sample. These results suggest new elements to both theoretical discussion and public policy focusing on entrepreneurship capital as an important factor to achieve economic growth.

Citation

Urbano, D., & Aparicio, S. (2016). Entrepreneurship capital types and economic growth: International evidence. Technological Forecasting and Social Change, 102, 34-44. https://doi.org/10.1016/j.techfore.2015.02.018

Journal Article Type Article
Acceptance Date Feb 25, 2015
Online Publication Date Mar 15, 2015
Publication Date Jan 1, 2016
Deposit Date Dec 7, 2017
Publicly Available Date Dec 8, 2017
Journal Technological Forecasting and Social Change
Print ISSN 0040-1625
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 102
Pages 34-44
DOI https://doi.org/10.1016/j.techfore.2015.02.018
Public URL https://durham-repository.worktribe.com/output/1342675

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