Entrepreneurship capital types and economic growth: International evidence

By David Urbano, Sebastian Aparicio. 2016

263 citations recorded by the source corpus.

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.

Subfields: Accounting, Economics and Econometrics, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/1cb0df55fcd5c825b98da286910d9d88b2cfe1b7

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. E. Stam
2. David B. Audretsch
3. David Urbano
4. M. Sanders
5. Sebastian Aparicio
6. J. Content
7. N. Bosma
8. V. Rusu

In Economics and Econometrics

1. E. Stam
2. David Urbano
3. Sebastian Aparicio
4. David B. Audretsch
5. N. Bosma
6. M. Sanders
7. J. Content
8. V. Rusu

In Management of Technology and Innovation

1. E. Stam
2. David Urbano
3. Sebastian Aparicio
4. David B. Audretsch
5. M. Sanders
6. N. Bosma
7. J. Content
8. V. Rusu

Citations in the corpus

• Economic globalization, entrepreneurship, and development (2018, background): “…the effects of: a comprehensive globalization index variable (KOF) as in Dreher (2006) and Samimi et al. (2014) and an opportunity total entrepreneurship activity (OTEA) variable à la Urbano and Aparicio (2016) through an Arellano-Bond model estimator first, then a dynamic estimation model next.”
• Determinants of Entrepreneurial Intention Among Undergraduate Students in Malaysia (2016, background): “Recently, entrepreneurship has been given serious devotion due to its importance on economic growth, job creation, sources of innovation and productivity (Urbano and Aparicio, 2015).”
• Twenty-five years of research on institutions, entrepreneurship, and economic growth: what has been learned? (2019, background): “From another perspective, authors such as Audretsch (2007), Audretsch and Keilbach (2004a, 2004b, 2005, 2007), Audretsch et al. (2008), and Urbano and Aparicio (2016) explore the last conclusion assuming that institutions affect the rate of entrepreneurship capital.”
• Institutions, entrepreneurship, and economic growth in Europe (2018, methodology): “Third, there is the option to use 3SLS estimation models (see Urbano and Aparicio 2016) to estimate a system of equations in which productive entrepreneurship is estimated, instead of constructed as in the second option, or left latent as in the first option.”
• The Nexus between Entrepreneurship and Economic Growth: A Comparative Analysis on Groups of Countries (2020, background): “Urbano and Aparicio [19] empirically analyzed the effect of different types of entrepreneurship capital (overall total entrepreneurial activity (TEA), opportunity TEA, and necessity TEA) on economic growth in 43 countries (member countries of the Organization for Economic Cooperation and Development”