Entrepreneurship and Economic Growth: Macroeconomic Analysis and Effects of Social Capital in the EU

Portela, Marta; Rozas, Emilia Vázquez; Neira, Isabel; Viera, Elvira

doi:10.5772/37632

Cited by 8 publications

(8 citation statements)

References 40 publications

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“…On the other hand, there is an institutional trust deficit in fragile countries and innovation is suppressed due to policy ineffectiveness. The results support the findings of Portela et al (2012), Doh and Zolnik (2011) and Thai and Turkina (2014). Urbano et al (2020) also support this view that a reduction in rent‐seeking and corruption promotes growth‐aspiring productive entrepreneurs.…”

Section: Discussionsupporting

confidence: 92%

“…Thus, entrepreneurship is fundamental for the development of an innovation economy. The macroeconomic analysis on the role of entrepreneurship in economic growth and development of social capital is studied by Portela, Vázquez‐Rozas, Neira, and Viera (2012). The study is conducted in the European Union using the methodology of the generalised method of moments (GMM).…”

Section: Literature Reviewmentioning

confidence: 99%

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State effectiveness, property rights and entrepreneurial behaviour as determinants of National Innovation

Idrees

Sarwar

2020

Australian Economic Papers

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This article examines the role of entrepreneurial behaviour, property rights and state effectiveness as determinants of national innovation. Entrepreneurial behaviour reflects not only risk‐bearing and risk‐sharing attitudes but also the capacity to undertake innovation activities. Besides, institutions also play an important role in formalising entrepreneurial behaviour that is crucial for a country's innovation. A comparison is made among three groups of countries—that is, factor‐driven, efficiency‐driven and innovation‐driven economies. Panel‐data econometric techniques are applied to undertake empirical analysis, using macro‐level data covering a time period of 7 years (2010–2016). It is observed that entrepreneurial attitudes and entrepreneurial activities play an important role in determining innovation but the impact varies with the level of economic development. A U‐shaped relationship is observed between innovation and entrepreneurial activities. Innovation‐driven economies have strong property rights and effective policy implementation that help build the confidence of prospective entrepreneurs who are attracted by perceived opportunities. Therefore, perceived opportunities have a significant impact only in innovation‐driven economies. Moreover, innovation is highly suppressed in fragile countries, that is, factor‐driven economies that face serious market distortions and inefficiencies caused by weak property rights and state ineffectiveness. However, no significant relationship is found in efficiency‐driven economies.

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Section: Discussionsupporting

confidence: 92%

Section: Literature Reviewmentioning

confidence: 99%

State effectiveness, property rights and entrepreneurial behaviour as determinants of National Innovation

Idrees

Sarwar

2020

Australian Economic Papers

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“…While examining the role of social networking on entrepreneurial activity, Casson and Giusta (2007) determine that government plays a significant role as trust-broker. Portela, Vázquez-Rozas, Neira, and Viera (2012) also conclude that public policies must focus on institutional and interpersonal trust to improve social environment which is necessary for developing an entrepreneurial society. Similar results are also found by Doh & Zolnik (2011).…”

Section: Resultsmentioning

confidence: 96%

Entrepreneurial Behavior, Institutional Trust and National Innovation: A Macro-Level Empirical Study

Idrees

Sarwar

2020

JAEBS

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Schumpeterian fundamentalism supports the argument that innovation is a dynamic process and novelties are initiated through economic agents namely the entrepreneurs; vis-à-vis a strong institutional environment is required to facilitate the innovation process. Therefore, the present study undertakes the macro-level empirical analysis on determining the impact of entrepreneurial behavior, property rights and state effectiveness on country’s innovation. The data is of panel nature consisting of 55 countries and a time period from 2010 to 2016. The empirical analysis is done using system GMM (Generalized Method of Moments) estimation technique. The study shows that the fear of failure rate and total early stage entrepreneurs reduces innovation in a country whereas there is a significant positive relationship between established business entrepreneurs and innovation. However, perceived opportunities have an insignificant impact. This means that it is not inevitable that opportunities necessary trigger innovation. In addition, the study shows that property rights play an integral role in developing institutional trust which boosts entrepreneurialism to undertake innovative venture. On the other hand, state effectiveness is negatively related to innovation i.e. institutional trust is brought down in fragile countries which retard country’s innovation.

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“…Among the benefits of entrepreneurship, economic growth, employment and productivity are the best known contributions (Carree and Thurik, 2003;Van Praag and Versloot, 2007;Shane, 2008;Brockhaus and Horwitz, 1986;Naude, 2013;Portela et al, 2012). In order to provide all these benefits, entrepreneurs who see and evaluate ideas need to discover new opportunities and take initiatives to implement them.…”

Section: Entrepreneurship and Entrepreneurial Universitymentioning

confidence: 99%

“…Many researchers agree that entrepreneurship contributes great deal in terms of its effect on economy and social life; therefore it is extremely important for all countries. Entrepreneurship as a field of study points to a multi-directional and multi-layered subject that affects individuals, their behaviour and interpersonal relationships, shapes existing business structures, contributes to the economic growth of the country in which it is located, and has positive effects on employment and productivity (Tabellini, 2005;Carree and Thurik, 2003;Van Praag and Versloot, 2007;Brockhaus and Horwitz, 1986;Naude, 2013;Portela et al, 2012;Cantillon, 1755;Smith, 1776;Marshall, 1969;Schumpeter, 1934).…”

Section: Introductionmentioning

confidence: 99%

Akademik Girişimcilik Ekosistemindeki Boyutların Belirlenmesine Yönelik Nitel Bir Araştırma: Türkiye Örneği

Çakir¹

2020

TurkishStudies

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This study is built on the subject of academic entrepreneurship which activates the universityindustry cooperation and commercializing the university researches. Main problem is the reality of developing academic entrepreneurship to the targets has not yet achieved in Turkey. Therefore, the main objective of this study is determining the factors that affect academic entrepreneurship in its ecosystem. In this research, in-depth interviews with the semi-structured questions were conducted with 19 active academic entrepreneurs from 7 different geographical regions of Turkey. Data gathered were tested by making necessary coding with the NVivo 11. As a result, the conceptual model consists of 8 themes which are individuals, universities, human capital, environment, technopark, industry, access to finance and the government respectively. The results of the research show that individual characteristics have a great influence on the academicians' entrepreneurial activities. While various proposals have been made in order to create awareness in the perspective of the industry in Turkey, the entrepreneurial culture that should be spread in the academic arena is also underlined. While the deficiencies of existing technoparks in terms of physiological facilities and expert personnel are listed, their benefits in terms of consultancy and support are also emphasized. Results show that the supporting capacity of multidisciplinary studies at universities should increase and there is inadequacy of innovative human resources in technoparks. In addition to the favourable views of almost all academic entrepreneurs in accessing finance, the state is expected to make some improvements in supervision and bureaucratic functioning. The results of the study, along with providing comprehensive data, also provide suggestions for improvements that can be made in this area. * This study is formed from a PhD Thesis titled "A Qualitative Research on Technoparks and Academic Dimension of Entrepreneurship" and presented in 2018. Bu çalışma 2018'de sunulan "Teknoparklar ve Girişimciliğin Akademik Boyutu üzerine Nitel bir Araştırma" başlıklı doktora tezinden üretilmiştir.

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Entrepreneurship and Economic Growth: Macroeconomic Analysis and Effects of Social Capital in the EU

Cited by 8 publications

References 40 publications

State effectiveness, property rights and entrepreneurial behaviour as determinants of National Innovation

State effectiveness, property rights and entrepreneurial behaviour as determinants of National Innovation

Entrepreneurial Behavior, Institutional Trust and National Innovation: A Macro-Level Empirical Study

Akademik Girişimcilik Ekosistemindeki Boyutların Belirlenmesine Yönelik Nitel Bir Araştırma: Türkiye Örneği

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